Axonics, Inc. (NASDAQ:AXNX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Axonics, Inc. (NASDAQ:AXNXGet Rating) have received a consensus recommendation of “Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $69.83.

Several brokerages have recently issued reports on AXNX. Bank of America began coverage on Axonics in a research report on Wednesday, March 2nd. They issued a “buy” rating on the stock. Zacks Investment Research downgraded Axonics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 11th. SVB Leerink increased their target price on Axonics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 25th. Morgan Stanley reduced their target price on Axonics from $73.00 to $69.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. Finally, Wolfe Research started coverage on Axonics in a research note on Tuesday, April 5th. They set an “outperform” rating and a $69.00 price target for the company.

In other Axonics news, CEO Raymond W. Cohen sold 50,000 shares of the business’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $52.82, for a total transaction of $2,641,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Danny L. Dearen sold 10,000 shares of the business’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $57.00, for a total transaction of $570,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,691 shares of company stock valued at $8,451,811. Insiders own 2.59% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its holdings in shares of Axonics by 401.1% in the 1st quarter. Signaturefd LLC now owns 451 shares of the company’s stock worth $28,000 after acquiring an additional 361 shares during the period. Assetmark Inc. acquired a new stake in shares of Axonics in the third quarter valued at approximately $102,000. US Bancorp DE increased its stake in shares of Axonics by 13.5% in the third quarter. US Bancorp DE now owns 2,080 shares of the company’s stock valued at $135,000 after purchasing an additional 248 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of Axonics in the third quarter valued at approximately $152,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Axonics in the first quarter valued at approximately $209,000. Hedge funds and other institutional investors own 99.69% of the company’s stock.

Shares of NASDAQ:AXNX opened at $57.45 on Thursday. Axonics has a 52-week low of $42.37 and a 52-week high of $79.81. The stock’s fifty day simple moving average is $58.96 and its 200-day simple moving average is $57.55. The company has a market capitalization of $2.70 billion, a P/E ratio of -30.56 and a beta of 0.51.

Axonics (NASDAQ:AXNXGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.02. Axonics had a negative return on equity of 16.75% and a negative net margin of 44.41%. The business had revenue of $53.14 million for the quarter, compared to the consensus estimate of $50.37 million. During the same period in the prior year, the business earned ($0.29) earnings per share. The business’s revenue was up 52.8% on a year-over-year basis. Sell-side analysts forecast that Axonics will post -2.36 EPS for the current year.

About Axonics (Get Rating)

Axonics, Inc, a medical technology company, engages in the development and commercialization of sacral neuromodulation (SNM) systems. The company's SNM systems are used to treat patients with overactive bladder, including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence and non-obstructive urinary retention.

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