Axonics (NASDAQ:AXNX) PT Raised to $87.00 at Wells Fargo & Company

Axonics (NASDAQ:AXNXGet Rating) had its price target lifted by equities research analysts at Wells Fargo & Company from $80.00 to $87.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 25.36% from the company’s current price.

Other analysts have also recently issued research reports about the company. Wolfe Research assumed coverage on Axonics in a report on Tuesday, April 5th. They set an “outperform” rating and a $69.00 target price for the company. Truist Financial upped their price target on Axonics from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th. Finally, Piper Sandler upped their price target on Axonics from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $78.00.

Axonics Price Performance

NASDAQ AXNX opened at $69.40 on Tuesday. Axonics has a 12 month low of $38.41 and a 12 month high of $79.81. The company has a 50-day moving average of $58.10 and a 200-day moving average of $55.69. The company has a market cap of $3.27 billion, a P/E ratio of -41.06 and a beta of 0.46.

Axonics (NASDAQ:AXNXGet Rating) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.10. Axonics had a negative net margin of 35.19% and a negative return on equity of 15.99%. The company had revenue of $68.98 million during the quarter, compared to the consensus estimate of $60.05 million. During the same quarter in the prior year, the company posted ($0.59) EPS. The company’s quarterly revenue was up 50.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Axonics will post -2.18 EPS for the current year.

Insider Activity

In other news, Director Jane E. Kiernan sold 5,250 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $60.00, for a total transaction of $315,000.00. Following the completion of the transaction, the director now directly owns 14,761 shares in the company, valued at approximately $885,660. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.31% of the company’s stock.

Institutional Investors Weigh In On Axonics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in shares of Axonics by 14.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,620 shares of the company’s stock valued at $92,000 after acquiring an additional 200 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Axonics by 64.6% during the 1st quarter. Captrust Financial Advisors now owns 706 shares of the company’s stock valued at $44,000 after acquiring an additional 277 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Axonics by 6.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,207 shares of the company’s stock worth $326,000 after buying an additional 326 shares during the period. US Bancorp DE increased its position in Axonics by 15.5% in the first quarter. US Bancorp DE now owns 2,508 shares of the company’s stock worth $157,000 after buying an additional 337 shares during the period. Finally, Signaturefd LLC increased its position in Axonics by 401.1% in the first quarter. Signaturefd LLC now owns 451 shares of the company’s stock worth $28,000 after buying an additional 361 shares during the period. 99.69% of the stock is owned by institutional investors and hedge funds.

About Axonics

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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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