Brainsway (NASDAQ:BWAY) Stock Rating Upgraded by Zacks Research

Brainsway (NASDAQ:BWAY) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on BWAY. Wall Street Zen raised shares of Brainsway from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. HC Wainwright lowered their price objective on shares of Brainsway from $30.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brainsway in a report on Monday, December 29th. Finally, Northland Securities set a $15.00 price target on Brainsway in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $15.00.

Brainsway Stock Performance

NASDAQ:BWAY opened at $13.86 on Tuesday. The firm has a market cap of $544.28 million, a PE ratio of 55.44 and a beta of 1.20. Brainsway has a fifty-two week low of $3.92 and a fifty-two week high of $14.65. The business has a 50 day moving average price of $12.49 and a 200-day moving average price of $9.87.

Brainsway (NASDAQ:BWAY) last issued its earnings results on Wednesday, March 11th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. Brainsway had a net margin of 14.62% and a return on equity of 11.10%. The company had revenue of $14.55 million for the quarter, compared to the consensus estimate of $14.02 million. Research analysts predict that Brainsway will post 0.08 EPS for the current year.

Institutional Trading of Brainsway

Hedge funds and other institutional investors have recently modified their holdings of the business. Legato Capital Management LLC increased its stake in shares of Brainsway by 9.3% in the 4th quarter. Legato Capital Management LLC now owns 97,376 shares of the company’s stock worth $1,852,000 after acquiring an additional 8,295 shares in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new stake in Brainsway during the fourth quarter worth about $209,000. Sigma Planning Corp purchased a new stake in Brainsway in the fourth quarter worth about $285,000. Huntleigh Advisors Inc. grew its holdings in Brainsway by 5.8% in the fourth quarter. Huntleigh Advisors Inc. now owns 87,076 shares of the company’s stock worth $1,656,000 after purchasing an additional 4,811 shares during the period. Finally, Eagle Global Advisors LLC increased its stake in shares of Brainsway by 9.4% during the fourth quarter. Eagle Global Advisors LLC now owns 81,303 shares of the company’s stock valued at $1,546,000 after purchasing an additional 6,977 shares in the last quarter. 30.11% of the stock is owned by hedge funds and other 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.