Brainsway (NASDAQ:BWAY) Price Target Raised to $20.00 at BTIG Research

Brainsway (NASDAQ:BWAY) had its price target lifted by stock analysts at BTIG Research from $18.00 to $20.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 25.87% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Zacks Research raised Brainsway from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brainsway in a research report on Tuesday, July 21st. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Brainsway in a report on Friday, July 17th. Finally, New Street Research reissued a “buy” rating on shares of Brainsway in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, Brainsway currently has an average rating of “Buy” and a consensus target price of $16.33.

Brainsway Stock Up 6.1%

BWAY traded up $0.91 during midday trading on Wednesday, hitting $15.89. The company had a trading volume of 275,830 shares, compared to its average volume of 163,622. Brainsway has a 52 week low of $6.25 and a 52 week high of $17.35. The company has a market capitalization of $637.68 million, a price-to-earnings ratio of 45.40 and a beta of 1.24. The stock’s 50 day moving average price is $15.03 and its 200 day moving average price is $14.30.

Brainsway (NASDAQ:BWAY) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The company had revenue of $17.11 million for the quarter, compared to the consensus estimate of $16.54 million. Brainsway had a return on equity of 12.28% and a net margin of 15.68%. Research analysts predict that Brainsway will post 0.33 EPS for the current year.

Institutional Trading of Brainsway

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in shares of Brainsway by 2.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 25,738 shares of the company’s stock worth $490,000 after buying an additional 589 shares during the last quarter. Man Group plc increased its position in shares of Brainsway by 4.5% during the 4th quarter. Man Group plc now owns 18,027 shares of the company’s stock valued at $343,000 after purchasing an additional 782 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Brainsway by 7.4% during the 3rd quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock worth $431,000 after purchasing an additional 1,964 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Brainsway during the 1st quarter worth $40,000. Finally, Ballast Advisors LLC purchased a new position in shares of Brainsway in the 1st quarter worth about $55,000. 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.