Brainsway (NASDAQ:BWAY) Stock Rating Reaffirmed as “Buy” by HC Wainwright

Brainsway (NASDAQ:BWAY)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Monday, Benzinga reports. They currently have a $19.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 58.00% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Zacks Research lowered shares of Brainsway from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. LADENBURG THALM/SH SH increased their price objective on shares of Brainsway from $18.00 to $18.80 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings lowered Brainsway from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Finally, BTIG Research reaffirmed a “buy” rating and set a $20.00 target price on shares of Brainsway in a research report on Thursday, September 10th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.20.

Brainsway Price Performance

Shares of NASDAQ:BWAY traded up $0.59 during midday trading on Monday, hitting $12.03. 66,280 shares of the company’s stock were exchanged, compared to its average volume of 150,764. Brainsway has a 12 month low of $7.14 and a 12 month high of $17.40. The company has a market cap of $484.01 million, a PE ratio of 27.33 and a beta of 1.29. The stock has a 50 day moving average price of $13.71 and a 200-day moving average price of $14.64.

Brainsway (NASDAQ:BWAY) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Brainsway had a net margin of 15.65% and a return on equity of 12.74%. The business had revenue of $17.11 million during the quarter, compared to the consensus estimate of $16.54 million. On average, analysts anticipate that Brainsway will post 0.33 EPS for the current fiscal year.

Institutional Trading of Brainsway

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Masters Capital Management LLC increased its stake in Brainsway by 65.0% during the 1st quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock worth $21,928,000 after buying an additional 650,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Brainsway by 87.2% during the 1st quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock worth $6,890,000 after purchasing an additional 241,560 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in Brainsway by 136.6% in the 1st quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock worth $3,615,000 after purchasing an additional 157,042 shares in the last quarter. HWG Holdings LP purchased a new position in Brainsway in the 3rd quarter worth approximately $3,340,000. Finally, Sei Investments Co. increased its stake in shares of Brainsway by 262.5% in the 1st quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock worth $3,009,000 after acquiring an additional 163,925 shares during the last quarter. Institutional investors and hedge funds own 30.11% of the company’s stock.

About Brainsway

BrainsWay Ltd. is a medical technology company that develops and commercializes noninvasive treatments for brain disorders. Its primary technology, Deep Transcranial Magnetic Stimulation (Deep TMS), uses electromagnetic fields to stimulate targeted areas of the brain and is delivered through specialized treatment systems and helmet-like coils.

The company’s Deep TMS platform is used by healthcare providers in the treatment of major depressive disorder, obsessive-compulsive disorder and smoking addiction, subject to applicable regulatory clearances and local treatment guidelines.