Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Receives Average Rating of “Buy” from Analysts

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) has earned an average rating of “Buy” from the five analysts that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $15.6667.

A number of analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Brainsway in a report on Friday. Wall Street Zen raised shares of Brainsway from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Weiss Ratings upgraded shares of Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. BTIG Research started coverage on shares of Brainsway in a research note on Monday. They set a “buy” rating and a $18.00 target price on the stock. Finally, Zacks Research upgraded Brainsway from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th.

Brainsway Stock Performance

Brainsway stock opened at $15.73 on Monday. Brainsway has a 12 month low of $5.68 and a 12 month high of $17.35. The stock’s 50 day simple moving average is $15.01 and its two-hundred day simple moving average is $13.74. The firm has a market cap of $631.24 million, a PE ratio of 44.94 and a beta of 1.22.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $15.53 million during the quarter, compared to analyst estimates of $14.63 million. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. On average, equities research analysts forecast that Brainsway will post 0.33 EPS for the current year.

Institutional Trading of Brainsway

Several institutional investors have recently bought and sold shares of BWAY. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Brainsway in the first quarter valued at approximately $40,000. Ballast Advisors LLC purchased a new position in shares of Brainsway during the 1st quarter valued at approximately $55,000. Raymond James Financial Inc. purchased a new position in shares of Brainsway during the 2nd quarter valued at approximately $85,000. Bank of America Corp DE acquired a new stake in Brainsway in the 3rd quarter valued at $107,000. Finally, Royal Bank of Canada grew its stake in 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 acquiring an additional 7,735 shares during the period. 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.