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

Shares of Axonics, Inc. (NASDAQ:AXNX) have been given an average rating of “Hold” by the nine research firms that are presently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $69.57.

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

Axonics Trading Down 0.1 %

NASDAQ:AXNX opened at $70.23 on Monday. Axonics has a 1 year low of $48.30 and a 1 year high of $70.53. The firm has a 50 day moving average of $69.44 and a 200-day moving average of $68.22. The stock has a market capitalization of $3.58 billion, a P/E ratio of -219.47 and a beta of 0.82.

Axonics (NASDAQ:AXNX) last posted its earnings results on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating 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 company had revenue of $114.57 million during the quarter, compared to analysts’ expectations of $112.83 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. Axonics’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, analysts forecast that Axonics will post 0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kari Leigh Keese sold 2,961 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $69.41, for a total value of $205,523.01. Following the completion of the transaction, the chief financial officer now owns 40,362 shares of the company’s stock, valued at $2,801,526.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On Axonics

Several institutional investors and hedge funds have recently made changes to their positions in AXNX. Los Angeles Capital Management LLC acquired a new position in shares of Axonics in the 1st quarter valued at $285,000. Inspirion Wealth Advisors LLC acquired a new position in shares of Axonics in the 1st quarter valued at $207,000. Janney Montgomery Scott LLC acquired a new position in shares of Axonics in the 1st quarter valued at $218,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in Axonics in the 1st quarter worth $16,573,000. Finally, Fifth Lane Capital LP acquired a new position in Axonics in the 1st quarter worth $5,518,000. Institutional investors and hedge funds 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.