Brainsway (NASDAQ:BWAY) Reaches New 52-Week High - Time to Buy?

Key Points

• Shares of Brainsway hit a new 52-week high at $17.16 (last $17.10) on Thursday, giving the company a market cap of about $668.9M and a trailing P/E of 66.84.
• Wall Street consensus is a "Buy" with a $15.00 average price target, though several firms recently upgraded ratings (including Zacks and Weiss) while some trimmed targets from $30 to $15.
• Recent results showed an EPS beat ($0.14 vs. $0.11) and revenue slightly above estimates, and institutional investors (including ARK, Two Sigma and UBS) have been increasing positions, with ~30.1% of shares held by institutions.

Shares of Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $17.16 and last traded at $17.10, with a volume of 46873 shares trading hands. The stock had previously closed at $16.41.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BWAY. Northland Securities set a $15.00 target price on Brainsway in a report on Thursday, January 22nd. HC Wainwright decreased their target price on Brainsway from $30.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, March 12th. Wall Street Zen raised Brainsway from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Weiss Ratings raised Brainsway from a "hold (c)" rating to a "buy (b-)" rating in a report on Friday, April 24th. Finally, Zacks Research raised Brainsway from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, Brainsway has a consensus rating of "Buy" and a consensus price target of $15.00.

Brainsway Trading Up 1.8%

The company has a 50 day moving average of $14.18 and a 200-day moving average of $11.26. The firm has a market capitalization of $668.90 million, a P/E ratio of 66.84 and a beta of 1.23.

Brainsway (NASDAQ:BWAY - Get Free Report) last released its quarterly earnings results on Wednesday, March 11th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $14.55 million during the quarter, compared to the consensus estimate of $14.02 million. Brainsway had a return on equity of 11.10% and a net margin of 14.62%. As a group, sell-side analysts forecast that Brainsway Ltd. Sponsored ADR will post 0.31 EPS for the current fiscal year.

Institutional Trading of Brainsway

Several institutional investors have recently added to or reduced their stakes in BWAY. Y.D. More Investments Ltd boosted its stake in Brainsway by 136.6% in 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 period. ARK Investment Management LLC bought a new stake in Brainsway in the 4th quarter valued at $2,422,000. UBS Group AG boosted its stake in Brainsway by 2,028.6% in the 3rd quarter. UBS Group AG now owns 63,878 shares of the company's stock valued at $963,000 after purchasing an additional 60,877 shares during the period. Sigma Planning Corp boosted its stake in Brainsway by 369.1% in the 1st quarter. Sigma Planning Corp now owns 70,363 shares of the company's stock valued at $935,000 after purchasing an additional 55,363 shares during the period. Finally, Two Sigma Investments LP boosted its stake in Brainsway by 25.2% in the 3rd quarter. Two Sigma Investments LP now owns 102,902 shares of the company's stock valued at $1,551,000 after purchasing an additional 20,706 shares during the period. 30.11% of the stock is currently owned by institutional investors.

Brainsway Company Profile

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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