Axonics (NASDAQ:AXNX) Hits New 52-Week High at $79.89

Axonics, Inc. (NASDAQ:AXNXGet Rating)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $79.89 and last traded at $79.64, with a volume of 2341 shares changing hands. The stock had previously closed at $77.15.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wells Fargo & Company raised their price objective on Axonics from $80.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. Needham & Company LLC raised their price objective on Axonics from $60.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Morgan Stanley raised their price objective on Axonics from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. Piper Sandler raised their price objective on Axonics from $77.00 to $82.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. Finally, Truist Financial raised their target price on Axonics from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $77.86.

Axonics Trading Down 4.2 %

The stock has a fifty day moving average of $69.53 and a two-hundred day moving average of $60.54. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -44.21 and a beta of 0.42.

Axonics (NASDAQ:AXNXGet Rating) last released its quarterly earnings results on Monday, August 1st. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.10. Axonics had a negative return on equity of 16.34% and a negative net margin of 35.19%. The firm had revenue of $68.98 million during the quarter, compared to analysts’ expectations of $60.05 million. During the same period last year, the firm posted ($0.59) EPS. The business’s revenue was up 50.4% on a year-over-year basis. Equities analysts expect that Axonics, Inc. will post -1.86 earnings per share for the current year.

Insider Activity at Axonics

In related news, COO Rinda Sama sold 33,850 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $69.56, for a total transaction of $2,354,606.00. Following the completion of the sale, the chief operating officer now directly owns 54,658 shares of the company’s stock, valued at approximately $3,802,010.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Danny L. Dearen sold 50,000 shares of Axonics stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $70.89, for a total value of $3,544,500.00. Following the completion of the sale, the insider now directly owns 8,156 shares of the company’s stock, valued at approximately $578,178.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rinda Sama sold 33,850 shares of Axonics stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $69.56, for a total value of $2,354,606.00. Following the completion of the sale, the chief operating officer now directly owns 54,658 shares of the company’s stock, valued at $3,802,010.48. The disclosure for this sale can be found here. Insiders sold 174,210 shares of company stock valued at $12,266,109 in the last three months. Corporate insiders own 2.31% of the company’s stock.

Institutional Investors Weigh In On Axonics

Several hedge funds and other institutional investors have recently made changes to their positions in AXNX. Signaturefd LLC increased its stake in shares of Axonics by 401.1% in the 1st quarter. Signaturefd LLC now owns 451 shares of the company’s stock valued at $28,000 after buying an additional 361 shares during the period. Captrust Financial Advisors grew its stake in shares of Axonics by 64.6% during the first quarter. Captrust Financial Advisors now owns 706 shares of the company’s stock worth $44,000 after purchasing an additional 277 shares during the period. Strs Ohio acquired a new stake in shares of Axonics during the second quarter worth $45,000. Point72 Hong Kong Ltd acquired a new stake in shares of Axonics during the second quarter worth $50,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Axonics by 14.1% during the second quarter. Nisa Investment Advisors LLC now owns 1,620 shares of the company’s stock worth $92,000 after purchasing an additional 200 shares during the period. 98.88% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading

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