Brainsway (NASDAQ:BWAY) Upgraded to Strong-Buy at Zacks Research

Brainsway (NASDAQ:BWAY) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a research note on Monday, December 29th. Northland Securities set a $15.00 target price on Brainsway in a research report on Thursday, January 22nd. HC Wainwright decreased their price target on Brainsway from $30.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Finally, Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $15.00.

Brainsway Price Performance

Shares of NASDAQ BWAY opened at $13.86 on Tuesday. The company has a 50-day moving average price of $12.49 and a 200-day moving average price of $9.87. The stock has a market capitalization of $544.28 million, a P/E ratio of 55.44 and a beta of 1.20. Brainsway has a 1 year low of $3.92 and a 1 year high of $14.65.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Wednesday, March 11th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Brainsway had a net margin of 14.62% and a return on equity of 11.10%. The company had revenue of $14.55 million for the quarter, compared to analyst estimates of $14.02 million. As a group, equities research analysts anticipate that Brainsway will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brainsway

Hedge funds have recently modified their holdings of the company. Bullseye Asset Management LLC purchased a new position in shares of Brainsway in the 4th quarter worth approximately $299,000. Legato Capital Management LLC increased its position in shares of Brainsway by 9.3% during the fourth quarter. Legato Capital Management LLC now owns 97,376 shares of the company’s stock valued at $1,852,000 after acquiring an additional 8,295 shares during the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Brainsway during the fourth quarter valued at approximately $209,000. Sigma Planning Corp bought a new stake in Brainsway during the fourth quarter worth $285,000. Finally, Huntleigh Advisors Inc. lifted its holdings in Brainsway by 5.8% during the fourth quarter. Huntleigh Advisors Inc. now owns 87,076 shares of the company’s stock worth $1,656,000 after acquiring an additional 4,811 shares during the period. Institutional investors own 30.11% of the company’s stock.

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.