Brainsway (NASDAQ:BWAY) Stock Price Expected to Rise, HC Wainwright Analyst Says

Brainsway (NASDAQ:BWAY) had its target price boosted by HC Wainwright from $17.00 to $19.00 in a research report issued on Monday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 32.87% from the company’s current price.

Several other analysts have also recently commented on the company. New Street Research restated a “buy” rating on shares of Brainsway in a research report on Friday, July 24th. BTIG Research boosted their price target on Brainsway from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. LADENBURG THALM/SH SH increased their price target on Brainsway from $18.00 to $18.80 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Finally, Weiss Ratings cut shares of Brainsway from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Brainsway presently has an average rating of “Moderate Buy” and an average target price of $18.20.

Brainsway Stock Performance

NASDAQ BWAY opened at $14.30 on Monday. The company has a 50-day moving average price of $15.21 and a two-hundred day moving average price of $14.61. Brainsway has a 52 week low of $7.14 and a 52 week high of $17.40. The stock has a market cap of $574.72 million, a price-to-earnings ratio of 32.50 and a beta of 1.24.

Brainsway (NASDAQ:BWAY) last released its quarterly 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 company had revenue of $17.11 million for the quarter, compared to analysts’ expectations of $16.54 million. Brainsway had a return on equity of 12.74% and a net margin of 15.65%. As a group, equities research analysts expect that Brainsway will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.