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

Axonics, Inc. (NASDAQ:AXNX) has been given a consensus rating of “Hold” by the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $70.73.

AXNX has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $71.00 price objective (up previously from $68.00) on shares of Axonics in a research note on Wednesday, January 10th. CL King reiterated a “neutral” rating on shares of Axonics in a research note on Friday, January 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $71.00 price objective on shares of Axonics in a research note on Thursday, February 29th. Truist Financial reiterated a “hold” rating and set a $71.00 price objective (down previously from $73.00) on shares of Axonics in a research note on Friday, January 12th. Finally, Piper Sandler reiterated a “neutral” rating and set a $71.00 price objective (down previously from $75.00) on shares of Axonics in a research note on Friday, January 12th.

Insider Buying and Selling

In other Axonics news, EVP John Woock sold 15,899 shares of Axonics stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $1,076,998.26. Following the completion of the transaction, the executive vice president now owns 77,403 shares of the company’s stock, valued at $5,243,279.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Axonics news, CEO Raymond W. Cohen sold 35,161 shares of Axonics stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $2,381,806.14. Following the completion of the transaction, the chief executive officer now owns 188,835 shares of the company’s stock, valued at $12,791,682.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Woock sold 15,899 shares of Axonics stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $1,076,998.26. Following the completion of the transaction, the executive vice president now directly owns 77,403 shares of the company’s stock, valued at approximately $5,243,279.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,837 shares of company stock worth $4,459,798. Insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On Axonics

A number of hedge funds have recently added to or reduced their stakes in AXNX. RiverPark Advisors LLC boosted its holdings in shares of Axonics by 14.4% during the fourth quarter. RiverPark Advisors LLC now owns 1,185 shares of the company’s stock valued at $74,000 after acquiring an additional 149 shares during the period. Arizona State Retirement System boosted its holdings in shares of Axonics by 2.2% during the third quarter. Arizona State Retirement System now owns 14,345 shares of the company’s stock valued at $805,000 after acquiring an additional 311 shares during the period. NBC Securities Inc. boosted its holdings in shares of Axonics by 106.4% during the fourth quarter. NBC Securities Inc. now owns 673 shares of the company’s stock valued at $41,000 after acquiring an additional 347 shares during the period. Scholtz & Company LLC boosted its holdings in shares of Axonics by 7.8% during the fourth quarter. Scholtz & Company LLC now owns 4,985 shares of the company’s stock valued at $310,000 after acquiring an additional 360 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Axonics by 2.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,846 shares of the company’s stock valued at $1,226,000 after acquiring an additional 446 shares during the period. Institutional investors and hedge funds own 99.48% of the company’s stock.

Axonics Stock Performance

NASDAQ AXNX opened at $66.69 on Monday. Axonics has a one year low of $47.59 and a one year high of $69.68. The company’s 50 day moving average price is $67.90 and its 200 day moving average price is $62.79. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -512.96 and a beta of 0.56.

Axonics (NASDAQ:AXNX) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. The firm had revenue of $109.70 million for the quarter, compared to analyst estimates of $107.33 million. Axonics had a negative net margin of 1.66% and a negative return on equity of 1.00%. Axonics’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. Sell-side analysts forecast that Axonics will post 0.32 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.