Analysts Set Axonics, Inc. (NASDAQ:AXNX) PT at $70.73

Axonics, Inc. (NASDAQ:AXNX) has been given an average rating of “Hold” by the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $70.73.

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $71.00 price target on shares of Axonics in a research note on Thursday, February 29th. Truist Financial restated a “hold” rating and set a $71.00 price target (down from $73.00) on shares of Axonics in a report on Friday, January 12th. SVB Leerink reiterated a “market perform” rating and issued a $71.00 price objective on shares of Axonics in a report on Friday, January 12th. Wells Fargo & Company reissued an “equal weight” rating and set a $71.00 target price (up from $68.00) on shares of Axonics in a report on Wednesday, January 10th. Finally, Piper Sandler restated a “neutral” rating and issued a $71.00 price target (down from $75.00) on shares of Axonics in a research report on Friday, January 12th.

Institutional Trading of Axonics

A number of institutional investors have recently bought and sold shares of AXNX. Stratos Wealth Partners LTD. acquired a new position in shares of Axonics in the 4th quarter valued at about $1,298,000. Invesco Ltd. lifted its stake in Axonics by 5.8% in the third quarter. Invesco Ltd. now owns 1,634,984 shares of the company’s stock valued at $91,755,000 after buying an additional 90,132 shares during the period. Algert Global LLC bought a new position in shares of Axonics during the 3rd quarter worth approximately $1,313,000. Hedges Asset Management LLC grew its position in shares of Axonics by 6.5% during the 4th quarter. Hedges Asset Management LLC now owns 8,600 shares of the company’s stock worth $535,000 after buying an additional 525 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of Axonics in the 3rd quarter valued at $68,499,000. Institutional investors own 99.48% of the company’s stock.

Axonics Trading Up 0.3 %

Shares of NASDAQ AXNX opened at $67.28 on Monday. The company has a market cap of $3.43 billion, a price-to-earnings ratio of -210.25 and a beta of 0.60. Axonics has a 12 month low of $47.59 and a 12 month high of $69.68. The stock has a 50-day moving average price of $67.80 and a two-hundred day moving average price of $63.32.

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

Axonics Company Profile

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.