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

Axonics, Inc. (NASDAQ:AXNX) has been given a consensus rating of “Hold” by the eight brokerages that are covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokers that have covered the stock in the last year is $71.00.

Separately, Needham & Company LLC restated a “hold” rating on shares of Axonics in a research note on Friday, November 8th.

Axonics Price Performance

AXNX opened at $70.98 on Tuesday. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -591.45 and a beta of 0.82. The business has a 50-day moving average of $70.47 and a two-hundred day moving average of $69.00. Axonics has a 12 month low of $55.09 and a 12 month high of $71.05.

Insider Activity

In other news, CFO Kari Leigh Keese sold 2,961 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total transaction of $205,523.01. Following the sale, the chief financial officer now directly owns 40,362 shares in the company, valued at approximately $2,801,526.42. This represents a 6.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On Axonics

Several large investors have recently made changes to their positions in the company. QRG Capital Management Inc. grew its stake in shares of Axonics by 20.0% in the second quarter. QRG Capital Management Inc. now owns 14,415 shares of the company’s stock worth $969,000 after purchasing an additional 2,405 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Axonics by 379.6% in the second quarter. SG Americas Securities LLC now owns 8,321 shares of the company’s stock worth $559,000 after purchasing an additional 6,586 shares during the period. Bank of New York Mellon Corp grew its position in Axonics by 12.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,171 shares of the company’s stock valued at $14,668,000 after buying an additional 23,460 shares in the last quarter. Rhumbline Advisers increased its stake in Axonics by 13.7% during the 2nd quarter. Rhumbline Advisers now owns 78,401 shares of the company’s stock valued at $5,271,000 after buying an additional 9,446 shares during the period. Finally, Wolverine Asset Management LLC raised its position in shares of Axonics by 22.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 42,191 shares of the company’s stock worth $2,836,000 after buying an additional 7,610 shares in the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

About Axonics

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.