H.C. Wainwright Reiterates Buy Rating on Brainsway (BWAY)

H.C. Wainwright analyst Raghuram Selvaraju reiterated a Buy rating and $17.00 price target on Brainsway (NASDAQ: BWAY).

The analyst commented: "This morning, BrainsWay announced further expansion in the number of medical policies across the U.S. providing favorable coverage for its SWIFT Accelerated Deep TMS protocol. The announcement comes after a series of favorable policy changes, the latest of which is a recently issued policy covering 2M members in South Carolina permitting coverage of SWIFT, in addition to various other increases in Deep TMS coverage for both major depressive disorder (MDD) and obsessive-compulsive disorder (OCD) patients. In the wake of this update, eight major payers and the U.S. Department of Veterans Affairs now either cover or include policy language supporting accelerated TMS treatment approaches, representing over 57M covered lives. In our view, additional policy coverage expansions should follow in the coming months. We reiterate our Buy rating and 12-month price target of $17."

For an analyst ratings summary and ratings history on Brainsway click here. For more ratings news on Brainsway click here.

Shares of Brainsway closed at $14.38 yesterday.

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