Axonics, Inc. (NASDAQ:AXNX) Receives Average Rating of “Hold” from Analysts

Axonics, Inc. (NASDAQ:AXNX) has been given a consensus rating of “Hold” by the thirteen analysts that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $70.73.

Several brokerages have commented on AXNX. Wolfe Research downgraded Axonics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 9th. Needham & Company LLC restated a “hold” rating on shares of Axonics in a research report on Wednesday, January 17th. Truist Financial restated a “hold” rating and set a $71.00 price objective (down from $73.00) on shares of Axonics in a research report on Friday, January 12th. Royal Bank of Canada restated a “sector perform” rating and set a $71.00 price objective on shares of Axonics in a research report on Thursday, February 29th. Finally, Piper Sandler restated a “neutral” rating and set a $71.00 price objective (down from $75.00) on shares of Axonics in a research report on Friday, January 12th.

Axonics Stock Up 0.2 %

Shares of NASDAQ AXNX opened at $66.69 on Monday. The business’s 50 day moving average is $67.90 and its two-hundred day moving average is $62.79. The company has a market cap of $3.40 billion, a P/E ratio of -512.96 and a beta of 0.56. Axonics has a 12 month low of $47.59 and a 12 month high of $69.68.

Axonics (NASDAQ:AXNX) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. The company had revenue of $109.70 million for the quarter, compared to the consensus estimate of $107.33 million. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. The company’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. Sell-side analysts expect that Axonics will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Axonics

In related news, EVP John Woock sold 15,899 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total value of $1,076,998.26. Following the sale, the executive vice president now owns 77,403 shares of the company’s stock, valued at approximately $5,243,279.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Axonics news, EVP John Woock sold 15,899 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total value of $1,076,998.26. Following the transaction, the executive vice president now owns 77,403 shares of the company’s stock, valued at $5,243,279.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kari Leigh Keese sold 3,489 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total value of $236,344.86. Following the completion of the transaction, the chief financial officer now directly owns 43,323 shares in the company, valued at approximately $2,934,700.02. The disclosure for this sale can be found here. Insiders have sold a total of 65,837 shares of company stock valued at $4,459,798 in the last 90 days. 1.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axonics

Institutional investors and hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new position in Axonics in the third quarter worth $37,000. NBC Securities Inc. boosted its stake in Axonics by 106.4% in the fourth quarter. NBC Securities Inc. now owns 673 shares of the company’s stock worth $41,000 after purchasing an additional 347 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Axonics during the fourth quarter worth $53,000. RiverPark Advisors LLC bought a new stake in shares of Axonics during the third quarter worth $58,000. Finally, C M Bidwell & Associates Ltd. raised its position in shares of Axonics by 108.2% during the third quarter. C M Bidwell & Associates Ltd. now owns 1,270 shares of the company’s stock worth $71,000 after acquiring an additional 660 shares during the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

Axonics Company Profile

Axonics, Inc, a medical technology company, engages in the development and commercialization of novel products for the treatment of bladder and bowel dysfunction. Its sacral neuromodulation (SNM) systems are used to treat patients with overactive bladder (OAB), including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence (FI) and non-obstructive urinary retention (UR); and rechargeable (R20) and recharge-free (F15) implantable SNM systems that delivers mild electrical pulses to the targeted sacral nerve to restore normal communication to and from the brain to reduce the symptoms of OAB, UR, and FI.