Axonics, Inc. (NASDAQ:AXNX) Given Average Rating of “Hold” by Brokerages

Axonics, Inc. (NASDAQ:AXNX) has earned an average rating of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $70.73.

Several research firms recently weighed in on AXNX. CL King restated a “neutral” rating on shares of Axonics in a research note on Friday, January 12th. Needham & Company LLC reiterated a “hold” rating on shares of Axonics in a research note on Wednesday, January 17th. Wolfe Research lowered shares of Axonics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $71.00 target price (down from $75.00) on shares of Axonics in a report on Friday, January 12th. Finally, Truist Financial reiterated a “hold” rating and set a $71.00 price target (down previously from $73.00) on shares of Axonics in a report on Friday, January 12th.

Institutional Trading of Axonics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. RiverPark Advisors LLC increased its stake in Axonics by 14.4% in the 4th quarter. RiverPark Advisors LLC now owns 1,185 shares of the company’s stock worth $74,000 after buying an additional 149 shares in the last quarter. Arizona State Retirement System grew its position in shares of Axonics by 2.2% during the third quarter. Arizona State Retirement System now owns 14,345 shares of the company’s stock worth $805,000 after purchasing an additional 311 shares in the last quarter. NBC Securities Inc. raised 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 purchasing an additional 347 shares during the period. Scholtz & Company LLC lifted its holdings in Axonics by 7.8% in 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. Finally, Whittier Trust Co. boosted its stake in Axonics by 59.1% in the 1st quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock worth $79,000 after purchasing an additional 424 shares during the period. Hedge funds and other institutional investors own 99.48% of the company’s stock.

Axonics Stock Performance

AXNX opened at $67.28 on Monday. The stock’s 50 day moving average price is $67.80 and its 200-day moving average price is $63.19. Axonics has a 52-week low of $47.59 and a 52-week high of $69.68. The stock has a market capitalization of $3.43 billion, a PE ratio of -210.25 and a beta of 0.60.

Axonics (NASDAQ:AXNX) last issued 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). Axonics had a negative return on equity of 2.58% and a negative net margin of 4.12%. The business had revenue of $91.41 million during the quarter, compared to the consensus estimate of $89.79 million. During the same quarter in the previous year, the business earned ($0.19) earnings per share. The firm’s revenue was up 29.4% compared to the same quarter last year. Research analysts forecast that Axonics will post 0.32 EPS 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.