Brokerages Set Axonics, Inc. (NASDAQ:AXNX) Target Price at $70.30

Axonics, Inc. (NASDAQ:AXNX) has been given an average recommendation of “Hold” by the thirteen ratings firms that are currently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $70.30.

A number of analysts have commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $71.00 price target on shares of Axonics in a research note on Thursday, February 29th. Needham & Company LLC restated a “hold” rating on shares of Axonics in a research note on Monday, May 6th.

Axonics Stock Down 0.3 %

NASDAQ:AXNX opened at $67.32 on Tuesday. The company has a fifty day moving average of $67.19 and a 200-day moving average of $66.30. The firm has a market capitalization of $3.43 billion, a P/E ratio of -210.38 and a beta of 0.90. Axonics has a twelve month low of $47.94 and a twelve month high of $69.68.

Axonics (NASDAQ:AXNX) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The company had revenue of $91.41 million during 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 business’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.19) EPS. On average, analysts anticipate that Axonics will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Axonics

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Axonics by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 394,868 shares of the company’s stock worth $22,160,000 after buying an additional 12,864 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Axonics by 1.5% in the 3rd quarter. Rhumbline Advisers now owns 69,582 shares of the company’s stock worth $3,905,000 after buying an additional 1,026 shares during the last quarter. FMR LLC boosted its holdings in shares of Axonics by 71.8% in the 3rd quarter. FMR LLC now owns 4,558,444 shares of the company’s stock worth $255,820,000 after buying an additional 1,904,955 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Axonics by 5.8% in the 3rd quarter. Invesco Ltd. now owns 1,634,984 shares of the company’s stock worth $91,755,000 after buying an additional 90,132 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Axonics by 4.6% in the 3rd quarter. Hsbc Holdings PLC now owns 51,760 shares of the company’s stock worth $2,906,000 after buying an additional 2,272 shares during the last quarter. 99.48% of the stock is owned by hedge funds and other institutional investors.

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.