Axonics (NASDAQ:AXNX) Sets New 52-Week High at $69.68

Axonics, Inc. (NASDAQ:AXNX)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $69.68 and last traded at $69.62, with a volume of 589828 shares trading hands. The stock had previously closed at $69.26.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “hold” rating on shares of Axonics in a research report on Monday, August 5th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $69.57.

Axonics Price Performance

The company’s 50-day moving average is $68.72 and its two-hundred day moving average is $67.97.

Axonics (NASDAQ:AXNX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Axonics had a negative net margin of 0.42% and a negative return on equity of 0.27%. The firm had revenue of $114.57 million for the quarter, compared to the consensus estimate of $112.83 million. During the same period in the previous year, the firm earned ($0.15) EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities analysts expect that Axonics, Inc. will post 0.24 earnings per share for the current year.

Hedge Funds Weigh In On Axonics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in Axonics by 461.1% in the 4th quarter. Principal Financial Group Inc. now owns 65,668 shares of the company’s stock valued at $4,087,000 after buying an additional 53,965 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Axonics in the 1st quarter worth approximately $605,000. Janus Henderson Group PLC grew its position in shares of Axonics by 637.7% during the 1st quarter. Janus Henderson Group PLC now owns 178,322 shares of the company’s stock valued at $12,298,000 after purchasing an additional 154,149 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Axonics by 91.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,220,889 shares of the company’s stock worth $75,976,000 after purchasing an additional 583,958 shares during the last quarter. Finally, Gabelli Funds LLC purchased a new stake in shares of Axonics during the 1st quarter valued at $12,271,000. 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.