Axonics, Inc. (NASDAQ:AXNX) Given Consensus Recommendation of “Hold” by Analysts

Axonics, Inc. (NASDAQ:AXNX) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $70.73.

A number of research firms recently issued reports on AXNX. Piper Sandler reiterated a “neutral” rating and set a $71.00 price objective (down from $75.00) on shares of Axonics in a research report on Friday, January 12th. SVB Leerink restated a “market perform” rating and set a $71.00 price objective on shares of Axonics in a research report on Friday, January 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $71.00 target price on shares of Axonics in a report on Thursday, February 29th. CL King reiterated a “neutral” rating on shares of Axonics in a research report on Friday, January 12th. Finally, Wolfe Research downgraded Axonics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 9th.

Institutional Investors Weigh In On Axonics

Several large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Axonics by 71.8% during the 3rd quarter. FMR LLC now owns 4,558,444 shares of the company’s stock valued at $255,820,000 after acquiring an additional 1,904,955 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Axonics in the 3rd quarter worth $68,499,000. Artisan Partners Limited Partnership purchased a new stake in shares of Axonics during the 3rd quarter valued at $35,745,000. Norges Bank purchased a new position in Axonics in the fourth quarter worth $37,645,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in Axonics during the first quarter valued at about $16,573,000. Institutional investors own 99.48% of the company’s stock.

Axonics Price Performance

Axonics stock opened at $67.28 on Monday. The stock’s fifty day moving average price is $67.80 and its two-hundred day moving average price is $63.19. The firm has a market cap of $3.43 billion, a PE ratio of -210.25 and a beta of 0.60. Axonics has a one year low of $47.59 and a one year high of $69.68.

Axonics (NASDAQ:AXNX) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). Axonics had a negative net margin of 4.12% and a negative return on equity of 2.58%. The firm had revenue of $91.41 million during the quarter, compared to the consensus estimate of $89.79 million. During the same period last year, the business earned ($0.19) earnings per share. The business’s revenue was up 29.4% compared to the same quarter last year. Sell-side analysts expect that Axonics will post 0.32 earnings per share for the current fiscal 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.