Axonics, Inc. (NASDAQ:AXNX) Receives $69.57 Consensus PT from Analysts

Axonics, Inc. (NASDAQ:AXNX) has been assigned a consensus rating of “Hold” from the ten brokerages that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation 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 reissued a “hold” rating on shares of Axonics in a research report on Monday, August 5th.

Axonics Trading Up 0.3 %

AXNX stock opened at $68.75 on Wednesday. Axonics has a 12 month low of $48.30 and a 12 month high of $69.68. The company has a 50-day moving average price of $67.80 and a 200 day moving average price of $67.75. The stock has a market cap of $3.51 billion, a PE ratio of -214.84 and a beta of 0.83.

Axonics (NASDAQ:AXNX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Axonics had a negative net margin of 0.42% and a negative return on equity of 0.27%. The firm had revenue of $114.57 million during the quarter, compared to analysts’ expectations of $112.83 million. During the same period in the previous year, the company earned ($0.15) EPS. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. Sell-side analysts forecast that Axonics will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Axonics

Several hedge funds have recently modified their holdings of AXNX. KRYGER CAPITAL Ltd bought a new position in shares of Axonics during the 1st quarter worth approximately $65,211,000. Magnetar Financial LLC raised its stake in shares of Axonics by 218.3% during the 1st quarter. Magnetar Financial LLC now owns 1,146,019 shares of the company’s stock worth $79,041,000 after acquiring an additional 785,981 shares in the last quarter. Norges Bank bought a new position in shares of Axonics during the 4th quarter worth approximately $37,645,000. Artisan Partners Limited Partnership raised its stake in shares of Axonics by 91.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,220,889 shares of the company’s stock worth $75,976,000 after acquiring an additional 583,958 shares in the last quarter. Finally, Alpine Associates Management Inc. raised its stake in shares of Axonics by 16.2% during the 2nd quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock worth $141,779,000 after acquiring an additional 294,100 shares in the last quarter. Hedge funds and other institutional investors own 99.48% of the company’s stock.

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.