Brainsway (NASDAQ:BWAY) Sets New 1-Year High – Should You Buy?

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s share price hit a new 52-week high on Wednesday . The company traded as high as $26.59 and last traded at $26.50, with a volume of 54664 shares changing hands. The stock had previously closed at $24.97.

Wall Street Analyst Weigh In

Several research firms have issued reports on BWAY. Northland Securities set a $30.00 price objective on Brainsway in a report on Thursday, January 22nd. HC Wainwright boosted their target price on Brainsway from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brainsway in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Brainsway from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Brainsway Stock Up 5.7%

The stock has a market cap of $517.55 million, a price-to-earnings ratio of 87.98 and a beta of 1.20. The stock’s fifty day moving average is $21.30 and its 200-day moving average is $17.49.

Brainsway shares are set to split on Tuesday, March 3rd. The 2-1 split was recently announced. The newly created shares will be issued to shareholders after the closing bell on Monday, March 2nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BWAY. Man Group plc increased its holdings in shares of Brainsway by 4.5% in the fourth quarter. Man Group plc now owns 18,027 shares of the company’s stock worth $343,000 after acquiring an additional 782 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Brainsway during the 4th quarter valued at about $245,000. Royal Bank of Canada grew its position in shares of Brainsway by 1,145.9% in the 4th 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 during the period. Bullseye Asset Management LLC bought a new position in Brainsway in the fourth quarter valued at approximately $299,000. Finally, ARK Investment Management LLC acquired a new position in shares of Brainsway in the fourth quarter valued at approximately $2,422,000. 30.11% of the stock is owned by institutional investors and hedge funds.

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.