Brainsway (NASDAQ:BWAY) Given New $20.00 Price Target at BTIG Research

Brainsway (NASDAQ:BWAY) had its price target upped by analysts at BTIG Research from $18.00 to $20.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 25.87% from the stock’s previous close.

Several other analysts have also recently weighed in on BWAY. New Street Research reissued a “buy” rating on shares of Brainsway in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brainsway in a report on Tuesday, July 21st. Zacks Research upgraded Brainsway from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Brainsway in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Brainsway presently has a consensus rating of “Buy” and an average price target of $16.33.

Brainsway Price Performance

NASDAQ BWAY traded up $0.91 during trading hours on Wednesday, reaching $15.89. The company’s stock had a trading volume of 275,830 shares, compared to its average volume of 163,622. The firm has a fifty day simple moving average of $15.03 and a 200-day simple moving average of $14.30. Brainsway has a 52 week low of $6.25 and a 52 week high of $17.35. The stock has a market cap of $637.68 million, a P/E ratio of 45.40 and a beta of 1.24.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Wednesday, August 12th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The business had revenue of $17.11 million for the quarter, compared to the consensus estimate of $16.54 million. Brainsway had a return on equity of 12.28% and a net margin of 15.68%. On average, research analysts expect that Brainsway will post 0.33 earnings per share for the current year.

Institutional Trading of Brainsway

A number of large investors have recently bought and sold shares of BWAY. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Brainsway in the 1st quarter valued at about $40,000. Ballast Advisors LLC acquired a new stake in Brainsway during the first quarter worth approximately $55,000. Raymond James Financial Inc. bought a new stake in Brainsway in the second quarter worth approximately $85,000. Bank of America Corp DE bought a new stake in Brainsway in the third quarter worth approximately $107,000. Finally, Royal Bank of Canada lifted its stake in Brainsway by 1,145.9% in the fourth 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 during the period. 30.11% of the stock is currently owned by institutional investors and hedge funds.

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.