Brainsway (NASDAQ:BWAY) Given “Buy” Rating at HC Wainwright

Brainsway (NASDAQ:BWAY)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued on Thursday,Benzinga reports. They currently have a $17.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 11.18% from the stock’s previous close.

Several other brokerages also recently commented on BWAY. Weiss Ratings upgraded shares of Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Wall Street Zen upgraded shares of Brainsway from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Zacks Research lowered shares of Brainsway from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Brainsway Stock Down 1.4%

Shares of BWAY stock opened at $15.29 on Thursday. Brainsway has a 12-month low of $5.68 and a 12-month high of $17.35. The firm has a fifty day moving average of $15.30 and a 200-day moving average of $13.22. The firm has a market capitalization of $613.59 million, a price-to-earnings ratio of 43.69 and a beta of 1.22.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.07. Brainsway had a return on equity of 12.28% and a net margin of 15.68%.The firm had revenue of $15.53 million for the quarter, compared to analyst estimates of $14.63 million. Research analysts expect that Brainsway will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On Brainsway

Several hedge funds have recently made changes to their positions in BWAY. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Brainsway in the first quarter worth $40,000. Ballast Advisors LLC bought a new stake in Brainsway during the first quarter worth about $55,000. Raymond James Financial Inc. acquired a new position in Brainsway during the second quarter valued at approximately $85,000. Bank of America Corp DE acquired a new position in Brainsway during the third quarter valued at approximately $107,000. Finally, Royal Bank of Canada grew its stake in Brainsway by 1,145.9% in the fourth quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock valued at $160,000 after purchasing an additional 7,735 shares in the last quarter. 30.11% of the stock is owned by institutional investors.

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.