BTIG Research initiated coverage on shares of Brainsway (NASDAQ:BWAY – Free Report) in a research report sent to investors on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $18.00 price target on the stock.
Several other analysts have also issued reports on the company. Zacks Research raised Brainsway from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings raised Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Brainsway in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $15.67.
Read Our Latest Report on BWAY
Brainsway Trading Up 2.5%
Brainsway (NASDAQ:BWAY – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $15.53 million during the quarter, compared to the consensus estimate of $14.63 million. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. Equities analysts forecast that Brainsway will post 0.33 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Brainsway
Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 589 shares during the period. Man Group plc raised its position in shares of Brainsway by 4.5% during the fourth quarter. Man Group plc now owns 18,027 shares of the company’s stock valued at $343,000 after buying an additional 782 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Brainsway by 7.4% in the third quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock worth $431,000 after buying an additional 1,964 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Brainsway in the first quarter worth $40,000. Finally, Ballast Advisors LLC bought a new position in shares of Brainsway during the first quarter worth $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.
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