Brainsway (NASDAQ:BWAY) Sets New 52-Week High – Time to Buy?

Shares of Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) hit a new 52-week high on Friday . The stock traded as high as $17.50 and last traded at $17.50, with a volume of 700 shares traded. The stock had previously closed at $16.51.

Analyst Ratings Changes

BWAY has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brainsway in a report on Tuesday. BTIG Research initiated coverage on Brainsway in a research report on Monday. They issued a “buy” rating and a $18.00 target price for the company. New Street Research reissued a “buy” rating on shares of Brainsway in a research note on Friday. Zacks Research upgraded Brainsway from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Brainsway in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $15.67.

Brainsway Stock Performance

The company’s 50 day simple moving average is $15.01 and its 200 day simple moving average is $13.93. The stock has a market cap of $663.03 million, a PE ratio of 47.72 and a beta of 1.22.

Brainsway (NASDAQ:BWAY) last released its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $15.53 million for the quarter, compared to analysts’ expectations of $14.63 million. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. Equities research analysts expect that Brainsway Ltd. Sponsored ADR will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BWAY. NewEdge Advisors LLC boosted its holdings in shares of Brainsway by 61.5% during the first quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock worth $188,000 after purchasing an additional 7,549 shares during the period. Raymond James Financial Inc. purchased a new position in Brainsway during the 2nd quarter valued at about $85,000. UBS Group AG raised its position in Brainsway by 2,028.6% during the 3rd quarter. UBS Group AG now owns 63,878 shares of the company’s stock valued at $963,000 after purchasing an additional 60,877 shares during the last quarter. Two Sigma Investments LP raised its position in Brainsway by 25.2% during the 3rd quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock valued at $1,551,000 after purchasing an additional 20,706 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in Brainsway during the 3rd quarter valued at approximately $107,000. 30.11% of the stock is owned by institutional investors.

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.