Brainsway (NASDAQ:BWAY) Stock Keeps “Buy” Rating at HC Wainwright

Brainsway (NASDAQ:BWAY)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report released on Monday, Benzinga reports. They presently have a $19.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 58.45% from the company’s current price.

Other analysts have also issued reports about the company. LADENBURG THALM/SH SH lifted their price target on Brainsway from $18.00 to $18.80 and gave the stock a “buy” rating in a report on Thursday, August 13th. New Street Research reiterated a “buy” rating on shares of Brainsway in a research note on Friday, July 24th. Weiss Ratings downgraded shares of Brainsway from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. BTIG Research restated a “buy” rating and set a $20.00 price target on shares of Brainsway in a research report on Thursday, September 10th. Finally, Zacks Research downgraded shares of Brainsway from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Brainsway currently has an average rating of “Moderate Buy” and a consensus target price of $18.20.

Brainsway Trading Up 4.8%

Shares of NASDAQ:BWAY traded up $0.55 during mid-day trading on Monday, hitting $11.99. 72,414 shares of the company traded hands, compared to its average volume of 150,799. Brainsway has a 12-month low of $7.14 and a 12-month high of $17.40. The stock has a market cap of $482.64 million, a P/E ratio of 27.27 and a beta of 1.29. The stock has a 50-day moving average price of $13.71 and a two-hundred day moving average price of $14.64.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Brainsway during the 1st quarter valued at $40,000. Ballast Advisors LLC bought a new position in Brainsway in the first quarter worth about $55,000. Royal Bank of Canada raised its stake in Brainsway by 84.2% in the first quarter. Royal Bank of Canada now owns 15,490 shares of the company’s stock worth $206,000 after buying an additional 7,080 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Brainsway by 434.6% in the second quarter. NewEdge Advisors LLC now owns 18,830 shares of the company’s stock worth $292,000 after buying an additional 15,308 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Brainsway in the first quarter worth about $206,000. Hedge funds and other institutional investors own 30.11% of the company’s stock.

Brainsway Company Profile

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.