Axonics (NASDAQ:AXNX) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Axonics (NASDAQ:AXNX) in a research note released on Monday, Benzinga reports.

Several other equities research analysts have also commented on the stock. Wolfe Research lowered shares of Axonics from an outperform rating to a peer perform rating in a research note on Tuesday, January 9th. Wells Fargo & Company reaffirmed an equal weight rating and set a $71.00 price objective (up previously from $68.00) on shares of Axonics in a research report on Wednesday, January 10th. Royal Bank of Canada reissued a sector perform rating and issued a $71.00 target price on shares of Axonics in a report on Thursday, February 29th. SVB Leerink restated a market perform rating and set a $71.00 price target on shares of Axonics in a report on Friday, January 12th. Finally, CL King reiterated a neutral rating on shares of Axonics in a research note on Friday, January 12th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Axonics has an average rating of Hold and a consensus price target of $70.73.

Axonics Stock Performance

Axonics stock opened at $67.40 on Monday. Axonics has a fifty-two week low of $47.59 and a fifty-two week high of $69.68. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -210.63 and a beta of 0.60. The stock’s 50 day simple moving average is $67.72 and its two-hundred day simple moving average is $63.59.

Axonics (NASDAQ:AXNX) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The firm had revenue of $91.41 million during the quarter, compared to analysts’ expectations of $89.79 million. Axonics had a negative return on equity of 2.58% and a negative net margin of 4.12%. Axonics’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) earnings per share. On average, analysts predict that Axonics will post 0.27 earnings per share for the current year.

Institutional Trading of Axonics

A number of institutional investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. purchased a new position in shares of Axonics during the fourth quarter valued at approximately $1,298,000. Lisanti Capital Growth LLC grew its position in Axonics by 41.6% in the 4th quarter. Lisanti Capital Growth LLC now owns 106,950 shares of the company’s stock worth $6,655,000 after purchasing an additional 31,400 shares during the period. Invesco Ltd. raised its stake in Axonics by 5.8% during the 3rd quarter. Invesco Ltd. now owns 1,634,984 shares of the company’s stock valued at $91,755,000 after buying an additional 90,132 shares during the last quarter. Algert Global LLC bought a new position in shares of Axonics during the 3rd quarter valued at $1,313,000. Finally, Hedges Asset Management LLC boosted its stake in shares of Axonics by 6.5% in the 4th quarter. Hedges Asset Management LLC now owns 8,600 shares of the company’s stock worth $535,000 after buying an additional 525 shares during the last quarter. Hedge funds and other institutional investors 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.