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

Axonics, Inc. (NASDAQ:AXNX) has been given a consensus rating of “Hold” by the ten research firms that are currently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $69.57.

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

Institutional Investors Weigh In On Axonics

Institutional investors have recently added to or reduced their stakes in the stock. Alpine Associates Management Inc. lifted its holdings in Axonics by 16.2% during the second quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock valued at $141,779,000 after purchasing an additional 294,100 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Axonics by 91.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,220,889 shares of the company’s stock valued at $75,976,000 after buying an additional 583,958 shares in the last quarter. Magnetar Financial LLC lifted its stake in Axonics by 218.3% in the 1st quarter. Magnetar Financial LLC now owns 1,146,019 shares of the company’s stock valued at $79,041,000 after buying an additional 785,981 shares in the last quarter. KRYGER CAPITAL Ltd acquired a new stake in Axonics in the 1st quarter worth about $65,211,000. Finally, Dimensional Fund Advisors LP increased its stake in Axonics by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 922,295 shares of the company’s stock worth $57,397,000 after buying an additional 56,418 shares in the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

Axonics Stock Down 0.0 %

Shares of AXNX opened at $68.83 on Friday. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -215.09 and a beta of 0.81. Axonics has a 52 week low of $48.30 and a 52 week high of $69.68. The stock’s 50-day moving average price is $68.40 and its 200-day moving average price is $67.88.

Axonics (NASDAQ:AXNX) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $114.57 million for 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 business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.15) EPS. As a group, equities analysts anticipate that Axonics will post 0.14 EPS for the current fiscal year.

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.