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

Shares of Axonics, Inc. (NASDAQ:AXNX) have earned a consensus recommendation of “Hold” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $69.57.

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

Axonics Stock Performance

Shares of NASDAQ AXNX opened at $69.48 on Thursday. The firm has a 50 day moving average price of $68.87 and a two-hundred day moving average price of $68.03. The stock has a market cap of $3.54 billion, a P/E ratio of -217.13 and a beta of 0.81. Axonics has a 52-week low of $48.30 and a 52-week high of $69.91.

Axonics (NASDAQ:AXNX) last announced 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. The business had revenue of $114.57 million during the quarter, compared to analyst estimates of $112.83 million. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. Axonics’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period last year, the company earned ($0.15) EPS. Analysts predict that Axonics will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axonics

A number of hedge funds have recently added to or reduced their stakes in AXNX. Headlands Technologies LLC boosted its holdings in shares of Axonics by 31.1% during the 1st quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock worth $77,000 after buying an additional 265 shares in the last quarter. Whittier Trust Co. boosted its stake in Axonics by 59.1% during the first quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock worth $79,000 after acquiring an additional 424 shares in the last quarter. Inspirion Wealth Advisors LLC acquired a new stake in Axonics in the first quarter worth $207,000. Janney Montgomery Scott LLC acquired a new stake in Axonics in the first quarter worth $218,000. Finally, Xponance Inc. increased its stake in Axonics by 7.5% in the second quarter. Xponance Inc. now owns 3,231 shares of the company’s stock valued at $217,000 after purchasing an additional 225 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors.

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.