Brainsway (NASDAQ:BWAY) Sets New 52-Week High – What’s Next?

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $17.35 and last traded at $16.74, with a volume of 260714 shares traded. The stock had previously closed at $16.73.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Brainsway from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. Northland Securities set a $15.00 price target on shares of Brainsway in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Brainsway from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. HC Wainwright dropped their target price on shares of Brainsway from $30.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Finally, Weiss Ratings upgraded shares of Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $15.00.

Brainsway Price Performance

The company’s fifty day simple moving average is $14.57 and its two-hundred day simple moving average is $11.51. The stock has a market cap of $670.27 million, a price-to-earnings ratio of 66.96 and a beta of 1.23.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Wednesday, March 11th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. Brainsway had a net margin of 14.62% and a return on equity of 11.10%. The firm had revenue of $14.55 million during the quarter, compared to analyst estimates of $14.02 million. On average, analysts forecast that Brainsway Ltd. Sponsored ADR will post 0.31 earnings per share for the current year.

Institutional Trading of Brainsway

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of Brainsway by 2.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 25,738 shares of the company’s stock worth $490,000 after acquiring an additional 589 shares in the last quarter. Man Group plc grew its stake in shares of Brainsway by 4.5% in the 4th quarter. Man Group plc now owns 18,027 shares of the company’s stock worth $343,000 after acquiring an additional 782 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Brainsway by 7.4% in the 3rd quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock worth $431,000 after acquiring an additional 1,964 shares in the last quarter. Zuckerman Investment Group LLC grew its stake in shares of Brainsway by 5.3% in the 3rd quarter. Zuckerman Investment Group LLC now owns 40,000 shares of the company’s stock worth $603,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Brainsway in the 1st quarter worth $40,000. 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.