Brainsway (NASDAQ:BWAY) Coverage Initiated by Analysts at BTIG Research

Key Points

• BTIG Research initiated coverage on Brainsway with a buy rating and a $18 price target, implying about 14.4% upside from the prior close.
• Analyst sentiment on BWAY remains positive overall, with recent upgrades from several firms and a consensus Buy rating; the average price target is $15.67.
• Brainsway recently posted stronger-than-expected quarterly results, earning $0.12 per share versus the $0.05 estimate and generating $15.53 million in revenue, above expectations.

Stock analysts at BTIG Research started coverage on shares of Brainsway (NASDAQ:BWAY - Get Free Report) in a note issued to investors on Monday, MarketBeat.com reports. The brokerage set a "buy" rating and a $18.00 price target on the stock. BTIG Research's price target indicates a potential upside of 14.43% from the company's previous close.

BWAY has been the subject of a number of other reports. HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of Brainsway in a report on Friday. Weiss Ratings upgraded Brainsway from a "hold (c)" rating to a "buy (b-)" rating in a research note on Friday, April 24th. Wall Street Zen raised Brainsway from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Finally, Zacks Research upgraded shares of Brainsway from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, Brainsway presently has a consensus rating of "Buy" and a consensus target price of $15.67.

Brainsway Stock Performance

BWAY stock opened at $15.73 on Monday. Brainsway has a 1 year low of $5.68 and a 1 year high of $17.35. The company has a fifty day simple moving average of $15.01 and a 200 day simple moving average of $13.74. The firm has a market cap of $631.24 million, a PE ratio of 44.94 and a beta of 1.22.

Brainsway (NASDAQ:BWAY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) 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 firm had revenue of $15.53 million during the quarter, compared to analysts' expectations of $14.63 million. As a group, analysts forecast that Brainsway will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Brainsway

Large investors have recently modified their holdings of the stock. Masters Capital Management LLC boosted its stake in shares of Brainsway by 65.0% in the 1st quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company's stock valued at $21,928,000 after purchasing an additional 650,000 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Brainsway by 87.2% during the 1st quarter. Renaissance Technologies LLC now owns 518,420 shares of the company's stock worth $6,890,000 after purchasing an additional 241,560 shares in the last quarter. Sei Investments Co. lifted its holdings in Brainsway by 262.5% during the 1st quarter. Sei Investments Co. now owns 226,378 shares of the company's stock valued at $3,009,000 after purchasing an additional 163,925 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in Brainsway by 136.6% during the 1st quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company's stock valued at $3,615,000 after purchasing an additional 157,042 shares during the last quarter. Finally, ARK Investment Management LLC acquired a new position in Brainsway in the fourth quarter valued at about $2,422,000. 30.11% of the stock is currently owned by 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.

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