Brainsway (NASDAQ:BWAY) Reaches New 1-Year High - Here's What Happened

Key Points

• 52-week high: Brainsway (NASDAQ:BWAY) hit a new 52-week intraday high of $16.24 and last traded at $15.81 on Thursday with about 224,540 shares changing hands (prior close $14.97).
• Analyst sentiment: The consensus rating is "Buy" with a $15.00 consensus price target after recent upgrades (Zacks to "strong-buy," Wall Street Zen to "buy"), although some firms cut targets (HC Wainwright lowered its target to $15 from $30).
• Financials & ownership: Brainsway beat the quarter with $0.14 EPS (vs. $0.11 expected) and $14.55M revenue, has a market cap of about $620M and a PE of 63.24, and institutional investors own roughly 30.11% of the stock.

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $16.24 and last traded at $15.81, with a volume of 224540 shares trading hands. The stock had previously closed at $14.97.

Analyst Ratings Changes

Several brokerages recently issued reports on BWAY. Zacks Research upgraded shares of Brainsway from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 24th. Wall Street Zen upgraded shares of Brainsway from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Northland Securities set a $15.00 target price on shares of Brainsway in a report on Thursday, January 22nd. HC Wainwright dropped their price target on Brainsway from $30.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, March 12th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Brainsway in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Brainsway currently has an average rating of "Buy" and a consensus price target of $15.00.

Brainsway Price Performance

The company has a market capitalization of $620.07 million, a PE ratio of 63.24 and a beta of 1.10. The company has a 50-day moving average of $13.05 and a two-hundred day moving average of $10.48.

Brainsway (NASDAQ:BWAY - Get Free Report) last posted its quarterly earnings data on Wednesday, March 11th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.03. Brainsway had a return on equity of 11.10% and a net margin of 14.62%.The firm had revenue of $14.55 million for the quarter, compared to analysts' expectations of $14.02 million. As a group, research analysts anticipate that Brainsway Ltd. Sponsored ADR will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Brainsway

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Brainsway during the second quarter valued at approximately $85,000. Bank of America Corp DE purchased a new position in shares of Brainsway during the 3rd quarter valued at $107,000. Royal Bank of Canada lifted 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 buying an additional 7,735 shares in the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Brainsway during the 4th quarter valued at $209,000. Finally, Centiva Capital LP purchased a new position in shares of Brainsway during the 3rd quarter valued at $181,000. 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.

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