Axonics, Inc. (NASDAQ:AXNX) Receives $69.57 Consensus Target Price from Analysts

Shares of Axonics, Inc. (NASDAQ:AXNX) have received an average rating of “Hold” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have covered 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its stake in Axonics by 0.9% in the second quarter. AQR Capital Management LLC now owns 18,337 shares of the company’s stock valued at $1,233,000 after buying an additional 161 shares during the last quarter. Xponance Inc. boosted its stake in Axonics by 7.5% during the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock worth $217,000 after purchasing an additional 225 shares during the period. Headlands Technologies LLC grew its position in 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 purchasing an additional 265 shares during the last quarter. NBC Securities Inc. increased its stake in Axonics by 106.4% in the fourth quarter. NBC Securities Inc. now owns 673 shares of the company’s stock valued at $41,000 after purchasing an additional 347 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of Axonics by 2.5% in the second quarter. Arizona State Retirement System now owns 14,278 shares of the company’s stock valued at $960,000 after buying an additional 355 shares during the last quarter. 99.48% of the stock is currently owned by hedge funds and other institutional investors.

Axonics Price Performance

Shares of NASDAQ AXNX opened at $68.84 on Friday. Axonics has a 1 year low of $48.30 and a 1 year high of $69.68. The stock has a market capitalization of $3.51 billion, a P/E ratio of -215.13 and a beta of 0.81. The company’s 50-day moving average is $68.37 and its 200 day moving average is $67.88.

Axonics (NASDAQ:AXNX) last released its earnings results on Thursday, August 1st. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $114.57 million for the quarter, compared to the consensus estimate of $112.83 million. During the same period in the prior year, the firm earned ($0.15) EPS. The company’s revenue was up 23.3% compared to the same quarter last year. Research analysts anticipate that Axonics will post 0.14 earnings per share for the current 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.