Brainsway (NASDAQ:BWAY) Reaches New 1-Year High – Here’s What Happened

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $16.24 and last traded at $15.81, with a volume of 224540 shares changing hands. The stock had previously closed at $14.97.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BWAY. HC Wainwright lowered their price objective on Brainsway from $30.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Zacks Research raised Brainsway from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a report on Monday, December 29th. Finally, Northland Securities set a $15.00 target price on shares of Brainsway in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Brainsway presently has an average rating of “Buy” and an average target price of $15.00.

Brainsway Trading Up 5.6%

The firm has a market cap of $620.07 million, a PE ratio of 63.24 and a beta of 1.10. The firm’s 50 day simple moving average is $13.05 and its 200 day simple moving average is $10.48.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Wednesday, March 11th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $14.55 million for the quarter, compared to the consensus estimate of $14.02 million. Brainsway had a return on equity of 11.10% and a net margin of 14.62%. As a group, equities research analysts predict that Brainsway Ltd. Sponsored ADR will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Y.D. More Investments Ltd lifted its position in Brainsway by 559.8% during the fourth quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock valued at $2,187,000 after purchasing an additional 97,537 shares during the last quarter. Raymond James Financial Inc. bought a new position in Brainsway during the second quarter valued at $85,000. Bullseye Asset Management LLC bought a new position in Brainsway during the fourth quarter valued at $299,000. Legato Capital Management LLC lifted its position in Brainsway by 9.3% during the fourth quarter. Legato Capital Management LLC now owns 97,376 shares of the company’s stock valued at $1,852,000 after purchasing an additional 8,295 shares during the last quarter. Finally, Nano Cap New Millennium Growth Fund L P bought a new position in shares of Brainsway in the 4th quarter valued at about $209,000. 30.11% of the stock is currently 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.