Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Brainsway, with five buy ratings and two holds. The average 12-month price target is $18.20, above the stock’s $14.15 opening price.
• Brainsway exceeded quarterly expectations, reporting $0.14 earnings per share versus a $0.10 estimate and revenue of $17.11 million versus $16.54 million expected.
• Institutional investors own 30.11% of the company, with several hedge funds recently increasing their positions, including UBS Group, which raised its stake by more than 2,000%.

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.20.

BWAY has been the subject of a number of research reports. Weiss Ratings cut Brainsway from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 19th. New Street Research reissued a "buy" rating on shares of Brainsway in a research report on Friday, July 24th. LADENBURG THALM/SH SH boosted their price target on Brainsway from $18.00 to $18.80 and gave the company a "buy" rating in a research note on Thursday, August 13th. Wall Street Zen raised shares of Brainsway from a "hold" rating to a "buy" rating in a research report on Sunday, August 2nd. Finally, BTIG Research increased their price objective on shares of Brainsway from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th.

Brainsway Stock Performance

Shares of BWAY stock opened at $14.15 on Tuesday. Brainsway has a 12-month low of $7.14 and a 12-month high of $17.40. The stock has a market capitalization of $568.97 million, a P/E ratio of 32.16 and a beta of 1.25. The firm's 50 day moving average is $15.18 and its 200 day moving average is $14.72.

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

Institutional Trading of Brainsway

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its stake in shares of Brainsway by 61.5% during the 1st quarter. NewEdge Advisors LLC now owns 19,828 shares of the company's stock worth $188,000 after acquiring an additional 7,549 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Brainsway during the 2nd quarter valued at $85,000. UBS Group AG increased its stake in shares of Brainsway by 2,028.6% in the 3rd quarter. UBS Group AG now owns 63,878 shares of the company's stock worth $963,000 after purchasing an additional 60,877 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Brainsway by 25.2% in the 3rd quarter. Two Sigma Investments LP now owns 102,902 shares of the company's stock worth $1,551,000 after purchasing an additional 20,706 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Brainsway in the 3rd quarter worth $107,000. 30.11% of the stock is owned by hedge funds and other 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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