Axonics (NASDAQ:AXNX) Given Hold Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Axonics (NASDAQ:AXNX) in a report issued on Monday, Benzinga reports.

AXNX has been the subject of several other research reports. Wolfe Research lowered shares of Axonics from an outperform rating to a peer perform rating in a report on Tuesday, January 9th. SVB Leerink reissued a market perform rating and issued a $71.00 target price on shares of Axonics in a research note on Friday, January 12th. Wells Fargo & Company reaffirmed an equal weight rating and set a $71.00 price target (up previously from $68.00) on shares of Axonics in a research report on Wednesday, January 10th. Truist Financial reiterated a hold rating and issued a $71.00 price objective (down from $73.00) on shares of Axonics in a research report on Friday, January 12th. Finally, 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. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $70.73.

Axonics Trading Up 0.5 %

NASDAQ:AXNX opened at $67.59 on Monday. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -211.22 and a beta of 0.60. Axonics has a 1-year low of $47.59 and a 1-year high of $69.68. The business’s 50-day moving average price is $67.77 and its two-hundred day moving average price is $63.43.

Axonics (NASDAQ:AXNX) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). The firm had revenue of $91.41 million during the quarter, compared to analyst estimates of $89.79 million. Axonics had a negative net margin of 4.12% and a negative return on equity of 2.58%. The business’s revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.19) earnings per share. Sell-side analysts predict that Axonics will post 0.27 earnings per share for the current year.

Institutional Trading of Axonics

A number of institutional investors have recently made changes to their positions in the business. RiverPark Advisors LLC grew its position in Axonics by 14.4% in the fourth quarter. RiverPark Advisors LLC now owns 1,185 shares of the company’s stock valued at $74,000 after purchasing an additional 149 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Axonics by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 14,345 shares of the company’s stock valued at $805,000 after acquiring an additional 311 shares in the last quarter. NBC Securities Inc. increased its position in shares of Axonics by 106.4% in the fourth quarter. NBC Securities Inc. now owns 673 shares of the company’s stock valued at $41,000 after acquiring an additional 347 shares during the last quarter. Scholtz & Company LLC raised its holdings in Axonics by 7.8% during the fourth quarter. Scholtz & Company LLC now owns 4,985 shares of the company’s stock worth $310,000 after acquiring an additional 360 shares in the last quarter. Finally, Whittier Trust Co. raised its holdings in Axonics by 59.1% during the first quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock worth $79,000 after acquiring an additional 424 shares in the last quarter. 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.