BrainsWay Wins First Insurer Coverage for Accelerated Deep TMS Depression Protocol

Brainsway ( (BWAY) ) just unveiled an announcement.

On January 7, 2026, BrainsWay announced that Premera Blue Cross Blue Shield, which covers more than 2.8 million people in Alaska and Washington state, has adopted a final medical policy that for the first time extends insurance coverage to BrainsWay’s accelerated SWIFT Deep TMS protocol for treating moderate to severe major depressive disorder in patients aged 15 and older. The policy recognizes SWIFT as an alternative to the standard Deep TMS protocol, offering a condensed regimen of 38 sessions over several weeks without the need for costly neuronavigational imaging, and is backed by clinical and real-world data showing comparable response and remission outcomes; the move strengthens BrainsWay’s reimbursement footing, broadens access to its technology for both adolescent and adult depression patients, and underscores its efforts to entrench accelerated Deep TMS as a mainstream, insurer-backed option in the competitive neuromodulation market.

The most recent analyst rating on (BWAY) stock is a Buy with a $24.00 price target. To see the full list of analyst forecasts on Brainsway stock, see the BWAY Stock Forecast page.

Spark’s Take on BWAY Stock

According to Spark, TipRanks’ AI Analyst, BWAY is a Outperform.

The score is driven primarily by improved profitability, strong cash generation, and a low-leverage balance sheet, reinforced by raised guidance and strong Q3 operating momentum. These positives are tempered by a demanding P/E valuation and technically stretched momentum signals that raise near-term pullback risk.

To see Spark’s full report on BWAY stock, click here.

More about Brainsway

BrainsWay Ltd., headquartered in Israel with operations in the United States, is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders. The company’s proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) platform uses H-coil technology and is the first and only TMS system with three FDA-cleared indications supported by pivotal studies, covering major depressive disorder (including anxious depression), obsessive-compulsive disorder, and smoking addiction, with additional clinical trials underway across psychiatric, neurological, and addiction conditions.

Average Trading Volume: 72,071

Technical Sentiment Signal: Buy

Current Market Cap: $395.9M

Find detailed analytics on BWAY stock on TipRanks’ Stock Analysis page.