Brainsway (NASDAQ:BWAY) Price Target Raised to $20.00

Brainsway (NASDAQ:BWAY) had its price objective boosted by BTIG Research from $18.00 to $20.00 in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. BTIG Research currently has a buy rating on the stock.

A number of other brokerages have also weighed in on BWAY. Weiss Ratings restated a “buy (b-)” rating on shares of Brainsway in a report on Tuesday, July 21st. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Brainsway in a research report on Friday, July 17th. Zacks Research raised Brainsway from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. New Street Research reaffirmed a “buy” rating on shares of Brainsway in a report on Friday, July 24th. Finally, Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.95.

Brainsway Stock Performance

Shares of BWAY opened at $16.32 on Wednesday. The firm has a market cap of $654.94 million, a P/E ratio of 37.09 and a beta of 1.24. The business has a 50-day moving average of $15.18 and a 200 day moving average of $14.38. Brainsway has a fifty-two week low of $6.26 and a fifty-two week high of $17.40.

Brainsway (NASDAQ:BWAY) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). Brainsway had a return on equity of 12.74% and a net margin of 15.65%.The business had revenue of $17.11 million during the quarter, compared to the consensus estimate of $16.54 million. As a group, research analysts predict that Brainsway will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brainsway

Several large investors have recently made changes to their positions in the business. Y.D. More Investments Ltd increased its holdings in shares of Brainsway by 136.6% in the first quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock worth $3,615,000 after purchasing an additional 157,042 shares during the last quarter. Masters Capital Management LLC lifted its position in shares of Brainsway by 65.0% in the first quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock worth $21,928,000 after buying an additional 650,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Brainsway by 87.2% during the first quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock valued at $6,890,000 after buying an additional 241,560 shares during the last quarter. Sei Investments Co. boosted its stake in Brainsway by 262.5% during the first quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock valued at $3,009,000 after buying an additional 163,925 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in Brainsway during the 1st quarter valued at approximately $433,000. 30.11% of the stock is currently owned by hedge funds and other institutional investors.

Brainsway News Summary

Here are the key news stories impacting Brainsway this week:

• Positive Sentiment: Ladenburg Thalmann raised its price target for Brainsway from $18.00 to $18.80 and assigned a “buy” rating, implying approximately 15.4% upside from the referenced $16.30 price. Benzinga article
• Positive Sentiment: BTIG Research forecast strong potential price appreciation for BWAY, adding to the positive analyst momentum around the stock. BTIG Research Forecasts Strong Price Appreciation for Brainsway
• Positive Sentiment: Brainsway shares advanced sharply following an analyst upgrade, indicating that investors responded favorably to the improved Wall Street outlook. Brainsway Trading Up Following Analyst Upgrade
• Positive Sentiment: The stock set a new 52-week high following what was characterized as strong earnings. The latest quarter included revenue of $17.11 million, above the $16.54 million consensus estimate, although earnings per share fell short of expectations. Brainsway Sets New One-Year High Following Strong Earnings

Brainsway Company Profile

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.