Brainsway (NASDAQ:BWAY) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Brainsway from “hold” to “buy,” adding to broadly positive analyst sentiment. The stock has an average “Buy” rating and a consensus price target of $15.67, with individual targets as high as $18.
• Brainsway shares opened at $15.23, near their 50-day moving average, with a market capitalization of approximately $611 million and a 12-month trading range of $5.68 to $17.35.
• The company recently exceeded quarterly expectations, reporting $0.12 in earnings per share versus the $0.05 consensus estimate and revenue of $15.53 million. Institutional investors own about 30.11% of the stock, with several hedge funds increasing their positions.

Brainsway (NASDAQ:BWAY - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

Several other research analysts have also recently issued reports on BWAY. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price target on shares of Brainsway in a report on Friday, July 17th. BTIG Research started coverage on Brainsway in a research note on Monday, July 20th. They set a "buy" rating and a $18.00 price objective for the company. New Street Research restated a "buy" rating on shares of Brainsway in a report on Friday, July 24th. Zacks Research upgraded Brainsway from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Brainsway in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $15.67.

Brainsway Trading Down 0.1%

NASDAQ:BWAY opened at $15.23 on Friday. The company has a 50-day moving average of $15.04 and a 200-day moving average of $14.09. The firm has a market cap of $611.18 million, a price-to-earnings ratio of 43.52 and a beta of 1.22. Brainsway has a twelve month low of $5.68 and a twelve month high of $17.35.

Brainsway (NASDAQ:BWAY - Get Free Report) last released its earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. The business had revenue of $15.53 million for the quarter, compared to the consensus estimate of $14.63 million. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. On average, research analysts forecast that Brainsway will post 0.33 earnings per share for the current year.

Institutional Trading of Brainsway

A number of hedge funds have recently made changes to their positions in the stock. Ballast Advisors LLC acquired a new stake in shares of Brainsway during the first quarter worth approximately $55,000. Bank of America Corp DE acquired a new position in Brainsway in the 1st quarter valued at approximately $206,000. Royal Bank of Canada lifted its position in Brainsway by 84.2% in the 1st quarter. Royal Bank of Canada now owns 15,490 shares of the company's stock worth $206,000 after buying an additional 7,080 shares in the last quarter. Masters Capital Management LLC boosted its stake in shares of Brainsway by 65.0% during the 1st quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company's stock valued at $21,928,000 after buying an additional 650,000 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Brainsway by 87.2% during the 1st quarter. Renaissance Technologies LLC now owns 518,420 shares of the company's stock valued at $6,890,000 after acquiring an additional 241,560 shares in the last quarter. 30.11% of the stock is owned by hedge funds and other 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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