Axonics (NASDAQ:AXNX) Announces Earnings Results

Axonics (NASDAQ:AXNX) released its earnings results on Tuesday. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32), Briefing.com reports. The firm had revenue of $91.41 million for the quarter, compared to analyst estimates of $89.79 million. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. The firm’s revenue was up 29.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) EPS.

Axonics Stock Performance

Axonics stock traded up $0.21 during mid-day trading on Wednesday, reaching $66.78. The company’s stock had a trading volume of 340,050 shares, compared to its average volume of 1,224,599. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -513.81 and a beta of 0.56. Axonics has a 12 month low of $47.59 and a 12 month high of $69.68. The business’s 50 day simple moving average is $67.86 and its 200 day simple moving average is $63.05.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company reissued an “equal weight” rating and set a $71.00 target price (up previously from $68.00) on shares of Axonics in a research report on Wednesday, January 10th. Wolfe Research lowered shares of Axonics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 9th. SVB Leerink restated a “market perform” rating and set a $71.00 price objective on shares of Axonics in a report on Friday, January 12th. CL King restated a “neutral” rating on shares of Axonics in a report on Friday, January 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Axonics in a report on Wednesday, January 17th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Axonics currently has a consensus rating of “Hold” and an average price target of $70.73.

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.