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

Shares of Axonics, Inc. (NASDAQ:AXNX) have been assigned a consensus recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $69.57.

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

Axonics Price Performance

Shares of NASDAQ:AXNX opened at $69.60 on Thursday. The business’s fifty day moving average price is $68.85 and its two-hundred day moving average price is $68.02. Axonics has a fifty-two week low of $48.30 and a fifty-two week high of $69.91. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -217.50 and a beta of 0.81.

Axonics (NASDAQ:AXNX) last posted its earnings results on Thursday, August 1st. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. Axonics had a negative net margin of 0.42% and a negative return on equity of 0.27%. The business had revenue of $114.57 million for the quarter, compared to analyst estimates of $112.83 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. Research analysts expect that Axonics will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Axonics

A number of large investors have recently modified their holdings of AXNX. AQR Capital Management LLC lifted its stake in shares of Axonics by 0.9% during the second quarter. AQR Capital Management LLC now owns 18,337 shares of the company’s stock valued at $1,233,000 after acquiring an additional 161 shares during the period. Xponance Inc. lifted its position in Axonics by 7.5% during the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock valued at $217,000 after purchasing an additional 225 shares during the period. 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 during the last quarter. Arizona State Retirement System boosted its stake in shares of Axonics by 2.5% in 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, Scholtz & Company LLC grew its position in shares of Axonics by 7.8% during the 4th quarter. Scholtz & Company LLC now owns 4,985 shares of the company’s stock worth $310,000 after buying an additional 360 shares during the period. 99.48% of the stock is currently owned by institutional investors and hedge funds.

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.