Axonics, Inc. (NASDAQ:AXNX) Receives Average Recommendation of “Hold” from Analysts

Shares of Axonics, Inc. (NASDAQ:AXNX) have been given an average recommendation of “Hold” by the nine research firms that are currently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $69.57.

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

Axonics Stock Performance

Shares of NASDAQ AXNX opened at $70.23 on Monday. The stock has a fifty day moving average price of $69.44 and a two-hundred day moving average price of $68.22. The firm has a market cap of $3.58 billion, a P/E ratio of -219.47 and a beta of 0.82. Axonics has a 1 year low of $48.30 and a 1 year high of $70.53.

Axonics (NASDAQ:AXNX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $114.57 million during the quarter, compared to analyst estimates of $112.83 million. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the company posted ($0.15) EPS. On average, research analysts predict that Axonics will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Axonics

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total transaction of $205,523.01. Following the transaction, the chief financial officer now directly owns 40,362 shares in the company, valued at $2,801,526.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On Axonics

Several hedge funds and other institutional investors have recently made changes to their positions in AXNX. Los Angeles Capital Management LLC acquired a new stake in shares of Axonics in the first quarter valued at about $285,000. Inspirion Wealth Advisors LLC acquired a new stake in Axonics during the first quarter valued at approximately $207,000. Janney Montgomery Scott LLC acquired a new stake in Axonics during the first quarter valued at approximately $218,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Axonics during the first quarter valued at approximately $16,573,000. Finally, Fifth Lane Capital LP acquired a new stake in Axonics during the first quarter valued at approximately $5,518,000. 99.48% of the stock is owned by institutional investors and hedge funds.

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.