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

Shares of Axonics, Inc. (NASDAQ:AXNX) have been given a consensus rating of “Hold” by the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $69.57.

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

Hedge Funds Weigh In On Axonics

Several institutional investors and hedge funds have recently modified their holdings of AXNX. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Axonics in the 2nd quarter worth $15,080,000. Maven Securities LTD bought a new stake in shares of Axonics in the second quarter valued at about $1,008,000. Granite Bay Wealth Management LLC acquired a new position in shares of Axonics during the second quarter worth about $1,698,000. Algert Global LLC grew its holdings in shares of Axonics by 26.0% during the second quarter. Algert Global LLC now owns 33,847 shares of the company’s stock worth $2,276,000 after buying an additional 6,978 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Axonics in the 2nd quarter valued at approximately $1,208,000. 99.48% of the stock is currently owned by institutional investors and hedge funds.

Axonics Stock Up 0.2 %

Shares of Axonics stock opened at $69.60 on Thursday. The business has a fifty day simple moving average of $68.85 and a 200 day simple moving average of $68.02. The stock has a market cap of $3.55 billion, a PE ratio of -217.50 and a beta of 0.81. Axonics has a 12 month low of $48.30 and a 12 month high of $69.91.

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 analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $114.57 million for the quarter, compared to analysts’ expectations of $112.83 million. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) earnings per share. Analysts expect 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.