Axonics, Inc. (NASDAQ:AXNX) Receives $69.57 Average PT from Analysts

Shares of Axonics, Inc. (NASDAQ:AXNX) have been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $69.57.

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

Axonics Stock Performance

AXNX stock opened at $68.83 on Friday. Axonics has a one year low of $48.30 and a one year high of $69.68. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -215.09 and a beta of 0.81. The firm has a 50-day simple moving average of $68.40 and a two-hundred day simple moving average of $67.88.

Axonics (NASDAQ:AXNX) last posted its earnings results on Thursday, August 1st. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $114.57 million during the quarter, compared to analysts’ expectations of $112.83 million. Axonics had a negative net margin of 0.42% and a negative return on equity of 0.27%. Axonics’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) earnings per share. As a group, equities analysts predict that Axonics will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Axonics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in shares of Axonics by 0.9% in the second quarter. AQR Capital Management LLC now owns 18,337 shares of the company’s stock worth $1,233,000 after purchasing an additional 161 shares during the last quarter. Xponance Inc. raised its position in Axonics by 7.5% during the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock worth $217,000 after buying an additional 225 shares during the last quarter. Headlands Technologies LLC raised its position in 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 buying an additional 265 shares during the last quarter. NBC Securities Inc. lifted its stake in Axonics by 106.4% during the 4th 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 period. Finally, Arizona State Retirement System boosted its holdings in shares of Axonics by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 14,278 shares of the company’s stock valued at $960,000 after acquiring an additional 355 shares during the last quarter. Institutional investors and hedge funds 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.