Brainsway (NASDAQ:BWAY) Stock Price Up 5.5% – Here’s Why

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s share price traded up 5.5% on Monday . The stock traded as high as $16.84 and last traded at $16.59. Approximately 150,461 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 164,412 shares. The stock had previously closed at $15.73.

Wall Street Analysts Forecast Growth

BWAY has been the topic of a number of recent research reports. Zacks Research raised Brainsway from a “hold” rating to a “strong-buy” rating in a research note 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. BTIG Research initiated coverage on Brainsway in a report on Monday. They set a “buy” rating and a $18.00 target price for the company. Weiss Ratings upgraded Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Brainsway in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $15.67.

Brainsway Price Performance

The stock has a market capitalization of $648.08 million, a PE ratio of 46.14 and a beta of 1.22. The company has a 50 day moving average price of $15.00 and a 200-day moving average price of $13.84.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $15.53 million during the quarter, compared to analyst estimates of $14.63 million. Brainsway had a return on equity of 12.28% and a net margin of 15.68%. As a group, equities analysts anticipate that Brainsway Ltd. Sponsored ADR will post 0.33 earnings per share for the current year.

Institutional Investors Weigh In On Brainsway

A number of large investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in Brainsway in the first quarter worth about $40,000. Ballast Advisors LLC bought a new stake in 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 worth approximately $85,000. Bank of America Corp DE purchased a new position in shares of Brainsway during the 3rd quarter worth approximately $107,000. Finally, Royal Bank of Canada raised 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 worth $160,000 after acquiring an additional 7,735 shares in the last quarter. 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.