Axonics (NASDAQ:AXNX) Price Target Raised to $82.00 at Piper Sandler

Axonics (NASDAQ:AXNXGet Rating) had its price target boosted by Piper Sandler from $77.00 to $82.00 in a research report released on Tuesday, The Fly reports. Piper Sandler currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Truist Financial upped their target price on Axonics from $64.00 to $75.00 and gave the stock a buy rating in a research report on Wednesday, July 20th. Wolfe Research assumed coverage on Axonics in a report on Tuesday, April 5th. They set an outperform rating and a $69.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $78.00.

Axonics Stock Performance

Shares of AXNX stock opened at $71.18 on Tuesday. The stock has a fifty day moving average price of $57.71 and a 200 day moving average price of $55.59. The stock has a market cap of $3.35 billion, a PE ratio of -39.33 and a beta of 0.46. Axonics has a 1 year low of $38.41 and a 1 year high of $79.81.

Axonics (NASDAQ:AXNXGet Rating) last issued its quarterly earnings data on Monday, August 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.10. The business had revenue of $68.98 million for the quarter, compared to the consensus estimate of $60.05 million. Axonics had a negative return on equity of 16.54% and a negative net margin of 41.28%. The business’s revenue was up 50.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.59) earnings per share. As a group, equities research analysts predict that Axonics will post -2.18 earnings per share for the current year.

Insider Transactions at Axonics

In other news, Director Jane E. Kiernan sold 5,250 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $60.00, for a total value of $315,000.00. Following the completion of the sale, the director now owns 14,761 shares of the company’s stock, valued at $885,660. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axonics

Several institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Axonics during the fourth quarter valued at approximately $30,653,000. State of New Jersey Common Pension Fund D raised its position in Axonics by 27.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 46,725 shares of the company’s stock worth $2,617,000 after purchasing an additional 10,051 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Axonics by 30.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,008 shares of the company’s stock worth $280,000 after purchasing an additional 1,172 shares during the last quarter. C WorldWide Group Holding A S raised its position in Axonics by 52.2% in the 4th quarter. C WorldWide Group Holding A S now owns 380,400 shares of the company’s stock worth $21,302,000 after purchasing an additional 130,400 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Axonics by 23.1% in the 4th quarter. New York State Common Retirement Fund now owns 53,410 shares of the company’s stock worth $2,991,000 after purchasing an additional 10,040 shares during the last quarter. 99.69% of the stock is currently owned by institutional investors.

Axonics Company Profile

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Axonics, Inc, a medical technology company, engages in the development and commercialization of sacral neuromodulation (SNM) systems. The company's SNM systems are used to treat patients with overactive bladder, including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence and non-obstructive urinary retention.

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