Axonics, Inc. (NASDAQ:AXNX) Receives $69.57 Average Price Target from Brokerages

Shares of Axonics, Inc. (NASDAQ:AXNX) have been given a consensus rating of “Hold” by the nine analysts that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $69.57.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a report on Monday, August 5th.

Insider Transactions at Axonics

In related news, CFO Kari Leigh Keese sold 2,961 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total transaction of $205,523.01. Following the sale, the chief financial officer now owns 40,362 shares of the company’s stock, valued at $2,801,526.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On Axonics

Several hedge funds have recently modified their holdings of AXNX. Headlands Technologies LLC lifted its stake in shares of Axonics by 31.1% during the first quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock valued at $77,000 after buying an additional 265 shares during the period. Whittier Trust Co. lifted its stake in shares of Axonics by 59.1% during the 1st quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock worth $79,000 after purchasing an additional 424 shares during the period. Inspirion Wealth Advisors LLC acquired a new stake in shares of Axonics during the first quarter worth $207,000. Janney Montgomery Scott LLC purchased a new stake in shares of Axonics in the first quarter valued at $218,000. Finally, Xponance Inc. increased its stake in Axonics by 7.5% in the second quarter. Xponance Inc. now owns 3,231 shares of the company’s stock valued at $217,000 after purchasing an additional 225 shares during the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.

Axonics Price Performance

AXNX opened at $70.23 on Monday. The business has a 50 day simple moving average of $69.44 and a 200-day simple moving average of $68.23. The stock has a market capitalization of $3.58 billion, a P/E ratio of -219.47 and a beta of 0.82. Axonics has a 12 month low of $48.30 and a 12 month high of $70.53.

Axonics (NASDAQ:AXNX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $114.57 million during the quarter, compared to analysts’ expectations of $112.83 million. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) EPS. Research analysts anticipate that Axonics will post 0.24 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.