Axonics (NASDAQ:AXNX) Earns Hold Rating from Needham & Company LLC

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

AXNX has been the topic of a number of other reports. SVB Leerink restated a market perform rating and set a $71.00 target price on shares of Axonics in a report on Friday, January 12th. Wells Fargo & Company reaffirmed an equal weight rating and issued a $71.00 target price (up from $68.00) on shares of Axonics in a report on Wednesday, January 10th. Royal Bank of Canada reiterated a sector perform rating and set a $71.00 price target on shares of Axonics in a report on Thursday, February 29th. CL King restated a neutral rating on shares of Axonics in a research note on Friday, January 12th. Finally, Wolfe Research cut Axonics from an outperform rating to a peer perform rating in a research report on Tuesday, January 9th. 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 stock presently has a consensus rating of Hold and an average target price of $70.73.

Axonics Price Performance

Shares of NASDAQ:AXNX opened at $67.32 on Monday. The company’s 50-day moving average price is $67.73 and its two-hundred day moving average price is $63.56. Axonics has a one year low of $47.59 and a one year high of $69.68. The stock has a market capitalization of $3.43 billion, a PE ratio of -210.38 and a beta of 0.60.

Axonics (NASDAQ:AXNX) last released its earnings results 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 company had revenue of $91.41 million during the quarter, compared to analyst estimates of $89.79 million. During the same period in the prior year, the firm posted ($0.19) EPS. Axonics’s revenue was up 29.4% compared to the same quarter last year. On average, analysts anticipate that Axonics will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AXNX. RiverPark Advisors LLC boosted its position in shares of 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 acquiring an additional 149 shares during the period. Headlands Technologies LLC grew its position in shares of Axonics by 31.1% during the 1st quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock worth $77,000 after purchasing an additional 265 shares in the last quarter. Arizona State Retirement System raised its position in shares of Axonics by 2.2% in the third quarter. Arizona State Retirement System now owns 14,345 shares of the company’s stock valued at $805,000 after buying an additional 311 shares in the last quarter. NBC Securities Inc. boosted its stake 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 buying an additional 347 shares during the period. Finally, Scholtz & Company LLC grew its holdings in shares of Axonics by 7.8% during the 4th quarter. Scholtz & Company LLC now owns 4,985 shares of the company’s stock worth $310,000 after purchasing an additional 360 shares in the last quarter. Institutional investors own 99.48% of the company’s stock.

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.