Axonics Modulation Technologies (NASDAQ:AXNX) Upgraded at Zacks Investment Research

Axonics Modulation Technologies (NASDAQ:AXNX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Axonics Modulation Technologies Inc. is focused on development and commercialization of a novel implantable SNM system for patients with urinary and bowel dysfunction and disrupting the SNM market. Axonics Modulation Technologies Inc. is based in Irvine, CA. “

Other research analysts also recently issued research reports about the company. Bank of America boosted their target price on Axonics Modulation Technologies from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. SunTrust Banks boosted their target price on Axonics Modulation Technologies to $33.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Wells Fargo & Co boosted their target price on Axonics Modulation Technologies from $35.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.78.

Shares of NASDAQ AXNX opened at $33.50 on Wednesday. The business’s 50-day moving average price is $37.72 and its two-hundred day moving average price is $27.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 12.21 and a quick ratio of 11.51. Axonics Modulation Technologies has a one year low of $11.95 and a one year high of $43.37. The company has a market capitalization of $950.86 million and a P/E ratio of -7.22.

Axonics Modulation Technologies (NASDAQ:AXNX) last issued its earnings results on Monday, August 5th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.17). Axonics Modulation Technologies had a negative net margin of 1,515.61% and a negative return on equity of 59.67%. The firm had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $1.04 million. The business’s quarterly revenue was up 12300.0% compared to the same quarter last year. On average, equities analysts anticipate that Axonics Modulation Technologies will post -2.28 EPS for the current year.

In other Axonics Modulation Technologies news, SVP Michael V. Williamson sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $36.01, for a total value of $180,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Geoff Pardo sold 1,695 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $38.12, for a total value of $64,613.40. The disclosure for this sale can be found here. Insiders sold 11,695 shares of company stock valued at $458,663 in the last ninety days. Insiders own 35.99% of the company’s stock.

Large investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC acquired a new stake in shares of Axonics Modulation Technologies in the second quarter worth about $32,000. BNP Paribas Arbitrage SA acquired a new position in shares of Axonics Modulation Technologies during the 2nd quarter worth about $35,000. Bank of Montreal Can lifted its position in shares of Axonics Modulation Technologies by 963.7% during the 2nd quarter. Bank of Montreal Can now owns 1,436 shares of the company’s stock worth $58,000 after purchasing an additional 1,301 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of Axonics Modulation Technologies by 130.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 2,302 shares of the company’s stock worth $94,000 after purchasing an additional 1,302 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of Axonics Modulation Technologies by 115.8% during the 2nd quarter. Strs Ohio now owns 4,100 shares of the company’s stock worth $167,000 after purchasing an additional 2,200 shares during the last quarter. 29.11% of the stock is owned by institutional investors.

Axonics Modulation Technologies Company Profile

Axonics Modulation Technologies, Inc, a medical technology company, focuses on the design, development, and commercialization of sacral neuromodulation solutions (SNM) solutions. The SNM therapy is primarily used to treat patients with overactive bladder, including urinary urgency incontinence and urinary urgency frequency, fecal incontinence, and urinary retention.

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