BTIG Research Begins Coverage on Brainsway (NASDAQ:BWAY)

Equities research analysts at BTIG Research assumed coverage on shares of Brainsway (NASDAQ:BWAY) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. BTIG Research’s target price would suggest a potential upside of 11.46% from the company’s current price.

Several other research firms also recently weighed in on BWAY. Weiss Ratings upgraded Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Zacks Research upgraded Brainsway from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of Brainsway in a report on Friday. Finally, Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $15.67.

Brainsway Price Performance

NASDAQ:BWAY opened at $16.15 on Monday. Brainsway has a one year low of $5.68 and a one year high of $17.35. The company’s 50-day simple moving average is $15.00 and its 200 day simple moving average is $13.84. The firm has a market capitalization of $648.08 million, a P/E ratio of 46.14 and a beta of 1.22.

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

Hedge Funds Weigh In On Brainsway

A number of institutional investors and hedge funds have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Brainsway in the first quarter worth $40,000. Ballast Advisors LLC purchased a new position in Brainsway in the first quarter worth about $55,000. Raymond James Financial Inc. purchased a new position in Brainsway in the second quarter worth about $85,000. Bank of America Corp DE purchased a new position in Brainsway in the third quarter worth about $107,000. Finally, Royal Bank of Canada grew its stake 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 purchasing an additional 7,735 shares during the period. 30.11% of the stock is currently owned by hedge funds and other institutional investors.

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.