Axonics (NASDAQ:AXNX) Announces Earnings Results

Axonics (NASDAQ:AXNX) posted its quarterly 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. Axonics had a negative net margin of 4.12% and a negative return on equity of 2.59%. The company had revenue of $91.41 million during the quarter, compared to analyst estimates of $89.79 million. During the same period last year, the company earned ($0.19) EPS. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year.

Axonics Stock Performance

NASDAQ AXNX opened at $66.87 on Thursday. Axonics has a 52 week low of $47.59 and a 52 week high of $69.68. The stock’s 50 day moving average price is $67.84 and its two-hundred day moving average price is $63.07.

Analysts Set New Price Targets

AXNX has been the topic of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $71.00 target price on shares of Axonics in a report on Thursday, February 29th. CL King reaffirmed a “neutral” rating on shares of Axonics in a research note on Friday, January 12th. Needham & Company LLC reissued a “hold” rating on shares of Axonics in a research report on Wednesday, January 17th. Wells Fargo & Company restated an “equal weight” rating and issued a $71.00 price objective (up previously from $68.00) on shares of Axonics in a research report on Wednesday, January 10th. Finally, Truist Financial reiterated a “hold” rating and set a $71.00 target price (down from $73.00) on shares of Axonics in a report on Friday, January 12th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.