Brainsway price target adjusted to $15 at H.C. Wainwright after ADS ratio change

H.C. Wainwright lowered the firm’s price target on Brainsway (BWAY) to $15 from $30 and keeps a Buy rating on the shares to reflect the recent change effected in the ratio of American Depositary Shares to ordinary shares. Previously, this ratio was one ADS for every two ordinary shares, but earlier this month it was revised to a one-to-one ratio, the analyst noted. In the wake of a “solid performance in 2025, the firm sees a positive medium- to long-term outlook, the analyst tells investors.