Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Receives $16.95 Consensus Price Target from Brokerages

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $16.95.

BWAY has been the topic of several analyst reports. Zacks Research downgraded shares of Brainsway from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. BTIG Research raised their price target on shares of Brainsway from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded shares of Brainsway from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Brainsway in a research report on Friday, July 17th. Finally, Weiss Ratings cut Brainsway from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday.

Brainsway Price Performance

Shares of NASDAQ:BWAY opened at $14.97 on Friday. The business has a fifty day moving average price of $15.23 and a 200-day moving average price of $14.47. The company has a market capitalization of $600.76 million, a PE ratio of 34.02 and a beta of 1.24. Brainsway has a 1-year low of $7.14 and a 1-year high of $17.40.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Brainsway had a net margin of 15.65% and a return on equity of 12.74%. The company had revenue of $17.11 million for the quarter, compared to analysts’ expectations of $16.54 million. On average, sell-side analysts anticipate that Brainsway will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in 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 buying an additional 589 shares during the last quarter. Man Group plc boosted its holdings in shares of Brainsway by 4.5% during the 4th quarter. Man Group plc now owns 18,027 shares of the company’s stock valued at $343,000 after acquiring an additional 782 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Brainsway by 7.4% during the 3rd quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock valued at $431,000 after acquiring an additional 1,964 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Brainsway in the first quarter worth approximately $40,000. Finally, Ballast Advisors LLC bought a new stake in shares of Brainsway in the first quarter worth approximately $55,000. Hedge funds and other 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.