Axonics’ (AXNX) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Axonics (NASDAQ:AXNX) in a research report released on Monday, Benzinga reports.

AXNX has been the topic of several other research reports. Wells Fargo & Company reiterated an equal weight rating and issued a $71.00 price objective (up previously from $68.00) on shares of Axonics in a report on Wednesday, January 10th. Wolfe Research cut shares of Axonics from an outperform rating to a peer perform rating in a research report on Tuesday, January 9th. Truist Financial restated a hold rating and issued a $71.00 price objective (down previously from $73.00) on shares of Axonics in a report on Friday, January 12th. Royal Bank of Canada reiterated a sector perform rating and set a $71.00 target price on shares of Axonics in a report on Thursday, February 29th. Finally, Piper Sandler reissued a neutral rating and issued a $71.00 price target (down previously from $75.00) on shares of Axonics in a research report on Friday, January 12th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $70.73.

Axonics Price Performance

Shares of AXNX opened at $67.40 on Monday. The firm has a 50-day simple moving average of $67.72 and a two-hundred day simple moving average of $63.59. The stock has a market cap of $3.44 billion, a PE ratio of -210.63 and a beta of 0.60. Axonics has a 1-year low of $47.59 and a 1-year high of $69.68.

Axonics (NASDAQ:AXNX) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). The company had revenue of $91.41 million for the quarter, compared to analysts’ expectations of $89.79 million. Axonics had a negative return on equity of 2.58% and a negative net margin of 4.12%. The business’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) EPS. As a group, sell-side analysts expect that Axonics will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axonics

Hedge funds and other institutional investors have recently modified their holdings of the company. Stratos Wealth Partners LTD. acquired a new position in shares of Axonics during the fourth quarter worth $1,298,000. Lisanti Capital Growth LLC boosted its position in shares of Axonics by 41.6% during the 4th quarter. Lisanti Capital Growth LLC now owns 106,950 shares of the company’s stock worth $6,655,000 after acquiring an additional 31,400 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Axonics by 5.8% in the 3rd quarter. Invesco Ltd. now owns 1,634,984 shares of the company’s stock valued at $91,755,000 after acquiring an additional 90,132 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Axonics during the 3rd quarter worth about $1,313,000. Finally, Hedges Asset Management LLC raised its position in shares of Axonics by 6.5% during the 4th quarter. Hedges Asset Management LLC now owns 8,600 shares of the company’s stock worth $535,000 after acquiring an additional 525 shares in the last quarter. 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.