Brainsway (NASDAQ:BWAY) Upgraded by Wall Street Zen to Buy Rating

Brainsway (NASDAQ:BWAY) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other research analysts have also recently commented on the company. Northland Securities set a $15.00 price target on Brainsway in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. Finally, HC Wainwright raised their target price on shares of Brainsway from $12.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Brainsway Price Performance

Shares of NASDAQ BWAY opened at $12.34 on Friday. The stock has a market capitalization of $483.97 million, a PE ratio of 82.27 and a beta of 1.20. The business has a fifty day moving average price of $11.75 and a two-hundred day moving average price of $9.32. Brainsway has a fifty-two week low of $3.92 and a fifty-two week high of $13.31.

Institutional Trading of Brainsway

A number of hedge funds have recently added to or reduced their stakes in BWAY. Man Group plc grew its stake in shares of Brainsway by 4.5% during the fourth quarter. Man Group plc now owns 18,027 shares of the company’s stock worth $343,000 after buying an additional 782 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Brainsway in the 4th quarter valued at $245,000. Royal Bank of Canada boosted its holdings in shares of Brainsway by 1,145.9% during the 4th quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock valued at $160,000 after acquiring an additional 7,735 shares in the last quarter. Bullseye Asset Management LLC acquired a new stake in shares of Brainsway during the 4th quarter valued at $299,000. Finally, ARK Investment Management LLC bought a new stake in Brainsway during the 4th quarter worth $2,422,000. Institutional investors and hedge funds 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.