Brainsway (NASDAQ:BWAY) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Brainsway (NASDAQ:BWAY) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

A number of other brokerages have also issued reports on BWAY. Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Brainsway in a report on Thursday, July 2nd. Finally, Weiss Ratings upgraded shares of Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, Brainsway has a consensus rating of “Buy” and a consensus price target of $16.00.

Brainsway Trading Up 2.5%

NASDAQ BWAY opened at $14.45 on Monday. The stock has a market capitalization of $579.88 million, a price-to-earnings ratio of 41.29 and a beta of 1.22. Brainsway has a twelve month low of $5.68 and a twelve month high of $17.35. The stock has a 50-day moving average of $15.11 and a 200 day moving average of $13.62.

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

Hedge Funds Weigh In On Brainsway

Hedge funds have recently made changes to their positions in the company. Masters Capital Management LLC lifted its position in shares of Brainsway by 65.0% in the first quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock valued at $21,928,000 after acquiring an additional 650,000 shares in the last quarter. Renaissance Technologies LLC raised its stake in Brainsway by 87.2% in the 1st quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock valued at $6,890,000 after purchasing an additional 241,560 shares during the last quarter. Y.D. More Investments Ltd raised its stake in Brainsway by 136.6% in the 1st quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock valued at $3,615,000 after purchasing an additional 157,042 shares during the last quarter. Sei Investments Co. raised its position in shares of Brainsway by 262.5% in the first quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock valued at $3,009,000 after buying an additional 163,925 shares during the last quarter. Finally, ARK Investment Management LLC purchased a new position in Brainsway in the 4th quarter worth approximately $2,422,000. Institutional investors and hedge funds own 30.11% of the company’s stock.

Brainsway Company Profile

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.