Brainsway (NASDAQ:BWAY) Earns "Buy" Rating from BTIG Research

Key Points

• BTIG Research reiterated a “Buy” rating on Brainsway and set a $20 price target, implying approximately 38.8% upside from the stock’s $14.41 price.
• Analyst sentiment remains favorable overall, with five Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $18.20.
• Brainsway exceeded quarterly expectations, reporting $0.14 in earnings per share versus a $0.10 estimate and revenue of $17.11 million versus $16.54 million expected.

Brainsway (NASDAQ:BWAY - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at BTIG Research in a research report issued on Thursday, Benzinga reports. They presently have a $20.00 target price on the stock. BTIG Research's price objective points to a potential upside of 38.79% from the company's current price.

A number of other analysts have also commented on BWAY. HC Wainwright reaffirmed a "buy" rating and set a $19.00 price objective on shares of Brainsway in a research note on Tuesday. LADENBURG THALM/SH SH raised their target price on shares of Brainsway from $18.00 to $18.80 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Weiss Ratings downgraded shares of Brainsway from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 19th. New Street Research reaffirmed a "buy" rating on shares of Brainsway in a research report on Friday, July 24th. Finally, Zacks Research lowered 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $18.20.

Brainsway Trading Up 1.8%

NASDAQ BWAY opened at $14.41 on Thursday. The business's 50 day moving average is $15.13 and its two-hundred day moving average is $14.74. The stock has a market capitalization of $579.43 million, a price-to-earnings ratio of 32.75 and a beta of 1.25. Brainsway has a 12-month low of $7.14 and a 12-month high of $17.40.

Brainsway (NASDAQ:BWAY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.04. Brainsway had a return on equity of 12.74% and a net margin of 15.65%.The firm had revenue of $17.11 million for the quarter, compared to analyst estimates of $16.54 million. Equities analysts forecast that Brainsway will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Brainsway during the first quarter worth $40,000. Ballast Advisors LLC bought a new stake in shares of Brainsway during the first quarter valued at approximately $55,000. Raymond James Financial Inc. bought a new stake in Brainsway during the 2nd quarter valued at $85,000. Bank of America Corp DE acquired a new stake in Brainsway in the third quarter worth about $107,000. Finally, Royal Bank of Canada lifted its stake in shares of Brainsway by 1,145.9% in the 4th quarter. Royal Bank of Canada now owns 8,410 shares of the company's stock worth $160,000 after acquiring an additional 7,735 shares during the period. 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.

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