Wall Street Zen Downgrades Brainsway (NASDAQ:BWAY) to Hold

Brainsway (NASDAQ:BWAY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently commented on BWAY. Zacks Research upgraded Brainsway from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Brainsway in a research report on Tuesday, July 21st. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Brainsway in a research note on Friday, July 17th. BTIG Research initiated coverage on shares of Brainsway in a research note on Monday, July 20th. They set a “buy” rating and a $18.00 price target on the stock. Finally, New Street Research reiterated a “buy” rating on shares of Brainsway in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, Brainsway currently has an average rating of “Buy” and an average price target of $15.67.

Brainsway Stock Performance

NASDAQ:BWAY opened at $15.97 on Friday. The business’s 50-day moving average is $15.02 and its 200 day moving average is $13.97. Brainsway has a 12 month low of $5.68 and a 12 month high of $17.35. The company has a market capitalization of $640.88 million, a P/E ratio of 45.63 and a beta of 1.22.

Brainsway (NASDAQ:BWAY) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. Brainsway had a return on equity of 12.28% and a net margin of 15.68%.The business had revenue of $15.53 million during the quarter, compared to analysts’ expectations of $14.63 million. On average, research analysts forecast that Brainsway will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On Brainsway

Several hedge funds have recently bought and sold shares of BWAY. Ballast Advisors LLC purchased a new stake in Brainsway in the first quarter worth $55,000. Bank of America Corp DE bought a new stake in shares of Brainsway during the first quarter worth $206,000. Royal Bank of Canada boosted its stake in shares of Brainsway by 84.2% during the first quarter. Royal Bank of Canada now owns 15,490 shares of the company’s stock valued at $206,000 after purchasing an additional 7,080 shares during the period. Masters Capital Management LLC boosted its stake in shares of Brainsway by 65.0% during the first quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock valued at $21,928,000 after purchasing an additional 650,000 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Brainsway by 87.2% in the first 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. Institutional investors own 30.11% of the company’s stock.

About Brainsway

Brainsway Ltd is a medical device company specializing in non-invasive neuromodulation therapies. Publicly traded on the NASDAQ under the symbol BWAY, the company develops and commercializes deep transcranial magnetic stimulation (Deep TMS) systems designed to treat a range of neuropsychiatric and neurological disorders. Brainsway’s technology aims to offer an alternative or complement to traditional pharmacological therapies by targeting precise brain regions with its patented coil designs.

The company’s flagship Deep TMS platform utilizes proprietary H-coil arrays engineered to reach deeper cortical structures than conventional TMS devices.