Brokerages Set Axonics, Inc. (NASDAQ:AXNX) Target Price at $70.73

Shares of Axonics, Inc. (NASDAQ:AXNX) have earned a consensus recommendation of “Hold” from the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $70.73.

A number of equities analysts have recently weighed in on the stock. SVB Leerink reaffirmed a “market perform” rating and issued a $71.00 price target on shares of Axonics in a research note on Friday, January 12th. Wolfe Research downgraded shares of Axonics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 9th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $71.00 price target (up from $68.00) on shares of Axonics in a research note on Wednesday, January 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $71.00 price target (down from $75.00) on shares of Axonics in a research note on Friday, January 12th. Finally, CL King reaffirmed a “neutral” rating on shares of Axonics in a research note on Friday, January 12th.

Institutional Trading of Axonics

A number of institutional investors and hedge funds have recently made changes to their positions in AXNX. Janney Montgomery Scott LLC acquired a new position in Axonics in the 1st quarter valued at approximately $218,000. Inspirion Wealth Advisors LLC acquired a new position in Axonics in the 1st quarter valued at approximately $207,000. Fort Pitt Capital Group LLC acquired a new position in Axonics in the 1st quarter valued at approximately $345,000. Los Angeles Capital Management LLC acquired a new position in Axonics in the 1st quarter valued at approximately $285,000. Finally, HighPoint Advisor Group LLC acquired a new position in Axonics in the 4th quarter valued at approximately $610,000. Institutional investors own 99.48% of the company’s stock.

Axonics Stock Performance

Shares of NASDAQ:AXNX opened at $66.87 on Monday. Axonics has a one year low of $47.59 and a one year high of $69.68. The stock has a fifty day moving average of $67.84 and a 200-day moving average of $63.07. The company has a market capitalization of $3.41 billion, a PE ratio of -514.35 and a beta of 0.56.

Axonics (NASDAQ:AXNX) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). Axonics had a negative net margin of 1.66% and a negative return on equity of 1.00%. The company had revenue of $91.41 million for the quarter, compared to analyst estimates of $89.79 million. During the same quarter last year, the company posted ($0.19) EPS. Axonics’s revenue was up 29.4% on a year-over-year basis. As a group, research analysts forecast that Axonics will post 0.32 EPS for the current fiscal year.

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.