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

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

A number of other equities analysts also recently commented on the stock. HC Wainwright restated a “buy” rating and set a $17.00 price objective (up from $15.00) on shares of Brainsway in a research report on Tuesday, May 26th. Weiss Ratings upgraded shares of Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Finally, Zacks Research downgraded shares of Brainsway from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Brainsway has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Brainsway Stock Performance

Shares of Brainsway stock opened at $14.63 on Friday. The company has a market cap of $586.52 million, a P/E ratio of 41.80 and a beta of 1.20. Brainsway has a one year low of $5.32 and a one year high of $17.35. The firm has a fifty day moving average of $15.19 and a two-hundred day moving average of $12.61.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $15.53 million during the quarter, compared to the consensus estimate of $14.63 million. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. As a group, equities analysts predict that Brainsway will post 0.3 earnings per share for the current year.

Hedge Funds Weigh In On Brainsway

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings in shares of Brainsway by 2.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 25,738 shares of the company’s stock valued at $490,000 after purchasing an additional 589 shares in the last quarter. Man Group plc increased its holdings in shares of Brainsway by 4.5% in the 4th quarter. Man Group plc now owns 18,027 shares of the company’s stock valued at $343,000 after purchasing an additional 782 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Brainsway by 7.4% in the 3rd quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock valued at $431,000 after purchasing an additional 1,964 shares in the last quarter. Zuckerman Investment Group LLC increased its holdings in shares of Brainsway by 5.3% in the 3rd quarter. Zuckerman Investment Group LLC now owns 40,000 shares of the company’s stock valued at $603,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Brainsway in the 1st quarter valued at about $40,000. Hedge funds and other 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.