Analysts Set Axonics, Inc. (NASDAQ:AXNX) PT at $70.30

Axonics, Inc. (NASDAQ:AXNX) has earned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $70.30.

A number of equities research analysts recently weighed in on AXNX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a research report on Monday, May 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $71.00 price objective on shares of Axonics in a research report on Thursday, February 29th.

Institutional Investors Weigh In On Axonics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RiverPark Advisors LLC raised its position in Axonics by 14.4% in the fourth quarter. RiverPark Advisors LLC now owns 1,185 shares of the company’s stock valued at $74,000 after purchasing an additional 149 shares during the period. Headlands Technologies LLC raised its position in Axonics by 31.1% in the first quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock valued at $77,000 after purchasing an additional 265 shares during the period. NBC Securities Inc. raised its position in Axonics by 106.4% in the fourth quarter. NBC Securities Inc. now owns 673 shares of the company’s stock valued at $41,000 after purchasing an additional 347 shares during the period. Scholtz & Company LLC raised its position in Axonics by 7.8% in the fourth quarter. Scholtz & Company LLC now owns 4,985 shares of the company’s stock valued at $310,000 after purchasing an additional 360 shares during the period. Finally, Whittier Trust Co. raised its position in Axonics by 59.1% in the first quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock valued at $79,000 after purchasing an additional 424 shares during the period. 99.48% of the stock is currently owned by hedge funds and other institutional investors.

Axonics Trading Down 0.3 %

AXNX opened at $67.32 on Tuesday. Axonics has a 12-month low of $47.94 and a 12-month high of $69.68. The business’s fifty day simple moving average is $67.19 and its 200-day simple moving average is $66.30. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of -210.38 and a beta of 0.90.

Axonics (NASDAQ:AXNX) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). Axonics had a negative return on equity of 2.58% and a negative net margin of 4.12%. The firm had revenue of $91.41 million for the quarter, compared to the consensus estimate of $89.79 million. During the same period in the previous year, the company posted ($0.19) EPS. Axonics’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, equities research analysts predict that Axonics will post 0.13 EPS for the current year.

About Axonics

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.