Analysts Set Axonics, Inc. (NASDAQ:AXNX) Price Target at $71.00

Axonics, Inc. (NASDAQ:AXNX) has earned an average rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $71.00.

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

Axonics Trading Up 0.8 %

Shares of Axonics stock opened at $70.98 on Friday. The company’s 50-day moving average price is $69.87 and its 200-day moving average price is $68.60. Axonics has a 12-month low of $55.09 and a 12-month high of $71.05. The company has a market cap of $3.63 billion, a price-to-earnings ratio of -591.45 and a beta of 0.82.

Insider Buying and Selling at Axonics

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the firm’s stock in a transaction dated 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 owns 40,362 shares in the company, valued at $2,801,526.42. This trade represents a 6.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axonics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its position in Axonics by 0.9% in the 2nd quarter. AQR Capital Management LLC now owns 18,337 shares of the company’s stock worth $1,233,000 after buying an additional 161 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Axonics by 7.5% in the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock worth $217,000 after acquiring an additional 225 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of Axonics by 31.1% in the 1st quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock valued at $77,000 after purchasing an additional 265 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Axonics by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 14,278 shares of the company’s stock valued at $960,000 after purchasing an additional 355 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of Axonics by 14.8% during the 3rd quarter. MML Investors Services LLC now owns 4,107 shares of the company’s stock valued at $286,000 after purchasing an additional 529 shares during the last quarter. 99.48% of the stock is currently owned by hedge funds and other institutional investors.

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.