Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) have earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $18.20.

A number of brokerages recently issued reports on BWAY. BTIG Research reissued a “buy” rating and issued a $20.00 target price on shares of Brainsway in a research report on Thursday, September 10th. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. LADENBURG THALM/SH SH boosted their price objective on Brainsway from $18.00 to $18.80 and gave the company a “buy” rating in a research note on Thursday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Brainsway in a research note on Monday, October 19th. Finally, New Street Research restated a “buy” rating on shares of Brainsway in a research report on Friday, July 24th.

Hedge Funds Weigh In On Brainsway

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Brainsway in the 1st quarter valued at about $40,000. Ballast Advisors LLC purchased a new stake in Brainsway during the 1st quarter valued at approximately $55,000. Royal Bank of Canada raised its stake in 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 acquiring an additional 7,080 shares during the last quarter. NewEdge Advisors LLC raised its stake in Brainsway by 434.6% during the 2nd quarter. NewEdge Advisors LLC now owns 18,830 shares of the company’s stock valued at $292,000 after acquiring an additional 15,308 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in Brainsway during the 1st quarter worth approximately $206,000. Hedge funds and other institutional investors own 30.11% of the company’s stock.

Brainsway Stock Performance

NASDAQ BWAY opened at $11.63 on Wednesday. Brainsway has a 1 year low of $7.14 and a 1 year high of $17.40. The company has a fifty day moving average of $13.16 and a two-hundred day moving average of $13.94.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The firm had revenue of $17.11 million for the quarter, compared to analyst estimates of $16.54 million. As a group, analysts predict that Brainsway will post 0.33 EPS for the current year.

About Brainsway

BrainsWay Ltd. (NASDAQ: BWAY) is a medical technology company that develops and commercializes noninvasive therapies for brain disorders. Its core technology, Deep Transcranial Magnetic Stimulation (Deep TMS), uses a helmet-like device to deliver magnetic stimulation to targeted areas of the brain.

The company’s Deep TMS systems are used in the treatment of major depressive disorder and obsessive-compulsive disorder, and have also received regulatory clearances for certain additional indications, including smoking cessation.