Axonics (NASDAQ:AXNX) PT Raised to $80.00 at Morgan Stanley

Axonics (NASDAQ:AXNXGet Rating) had its price target lifted by equities researchers at Morgan Stanley from $73.00 to $80.00 in a report issued on Tuesday, MarketBeat reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 15.27% from the stock’s previous close.

Several other research firms also recently commented on AXNX. Piper Sandler upped their target price on Axonics from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Tuesday. Wolfe Research initiated coverage on Axonics in a research report on Tuesday, April 5th. They set an “outperform” rating and a $69.00 price target on the stock. Needham & Company LLC increased their price target on Axonics from $60.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on Axonics from $80.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Truist Financial increased their price target on Axonics from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Axonics currently has a consensus rating of “Buy” and a consensus price target of $78.00.

Axonics Trading Down 2.5 %

Axonics stock opened at $69.40 on Tuesday. Axonics has a 12 month low of $38.41 and a 12 month high of $79.81. The stock’s 50 day moving average is $58.10 and its 200-day moving average is $55.69. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -41.06 and a beta of 0.46.

Axonics (NASDAQ:AXNXGet Rating) last posted its earnings results on Monday, August 1st. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.10. Axonics had a negative return on equity of 15.99% and a negative net margin of 35.19%. The company had revenue of $68.98 million for the quarter, compared to the consensus estimate of $60.05 million. During the same quarter in the prior year, the business earned ($0.59) earnings per share. The firm’s revenue for the quarter was up 50.4% on a year-over-year basis. As a group, equities research analysts predict that Axonics will post -2.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Axonics

In other Axonics news, Director Jane E. Kiernan sold 5,250 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $60.00, for a total value of $315,000.00. Following the sale, the director now owns 14,761 shares of the company’s stock, valued at approximately $885,660. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.31% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AXNX. Allspring Global Investments Holdings LLC bought a new position in shares of Axonics in the 4th quarter valued at $30,653,000. State of New Jersey Common Pension Fund D lifted its stake in shares of Axonics by 27.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 46,725 shares of the company’s stock valued at $2,617,000 after acquiring an additional 10,051 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Axonics by 30.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,008 shares of the company’s stock valued at $280,000 after acquiring an additional 1,172 shares during the last quarter. C WorldWide Group Holding A S lifted its stake in shares of Axonics by 52.2% in the 4th quarter. C WorldWide Group Holding A S now owns 380,400 shares of the company’s stock valued at $21,302,000 after acquiring an additional 130,400 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Axonics by 23.1% in the 4th quarter. New York State Common Retirement Fund now owns 53,410 shares of the company’s stock valued at $2,991,000 after acquiring an additional 10,040 shares during the last quarter. 99.69% of the stock is currently owned by institutional investors.

Axonics Company Profile

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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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Analyst Recommendations for Axonics (NASDAQ:AXNX)

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