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

Shares of Axonics, Inc. (NASDAQ:AXNX) have received a consensus rating of “Hold” from the nine research firms that are currently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $69.57.

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

Insiders Place Their Bets

In related news, CFO Kari Leigh Keese sold 2,961 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 approximately $2,801,526.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Edgestream Partners L.P. purchased a new stake in Axonics in the 1st quarter valued at about $605,000. Janus Henderson Group PLC increased its holdings in Axonics by 637.7% during the 1st quarter. Janus Henderson Group PLC now owns 178,322 shares of the company’s stock worth $12,298,000 after purchasing an additional 154,149 shares during the period. Gabelli Funds LLC bought a new stake in Axonics during the 1st quarter valued at $12,271,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Axonics during the 1st quarter valued at $16,573,000. Finally, Fifth Lane Capital LP purchased a new stake in shares of Axonics in the 1st quarter worth $5,518,000. 99.48% of the stock is currently owned by institutional investors.

Axonics Stock Performance

Shares of NASDAQ AXNX opened at $70.24 on Monday. The firm’s fifty day moving average is $69.28 and its two-hundred day moving average is $68.14. Axonics has a 52-week low of $48.30 and a 52-week high of $70.53. The company has a market cap of $3.58 billion, a P/E ratio of -219.50 and a beta of 0.82.

Axonics (NASDAQ:AXNX) last issued its earnings results on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. The firm had revenue of $114.57 million for the quarter, compared to analysts’ expectations of $112.83 million. During the same period in the previous year, the firm posted ($0.15) earnings per share. The business’s revenue was up 23.3% compared to the same quarter last year. As a group, analysts forecast that Axonics will post 0.24 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.