Axonics Modulation Technologies (NASDAQ:AXNX) Trading 5.5% Higher

Axonics Modulation Technologies Inc (NASDAQ:AXNX)’s share price traded up 5.5% during trading on Tuesday . The company traded as high as $33.06 and last traded at $31.94, 238,400 shares were traded during mid-day trading. An increase of 39% from the average session volume of 171,885 shares. The stock had previously closed at $30.27.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Axonics Modulation Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 14th. Wells Fargo & Co boosted their target price on shares of Axonics Modulation Technologies from $35.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Bank of America boosted their target price on shares of Axonics Modulation Technologies from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Svb Leerink assumed coverage on shares of Axonics Modulation Technologies in a report on Tuesday. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Leerink Swann assumed coverage on shares of Axonics Modulation Technologies in a report on Tuesday. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $35.27.

The company has a debt-to-equity ratio of 0.18, a current ratio of 12.21 and a quick ratio of 11.51. The firm has a market capitalization of $884.84 million and a P/E ratio of -6.88. The stock’s fifty day simple moving average is $33.93 and its 200 day simple moving average is $30.27.



Axonics Modulation Technologies (NASDAQ:AXNX) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.17). Axonics Modulation Technologies had a negative net margin of 1,515.61% and a negative return on equity of 59.67%. The company had revenue of $1.49 million for the quarter, compared to analyst estimates of $1.04 million. The business’s quarterly revenue was up 12300.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Axonics Modulation Technologies Inc will post -2.28 EPS for the current fiscal year.

In other news, major shareholder Geoff Pardo sold 1,695 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $38.12, for a total transaction of $64,613.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael V. Williamson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $42.80, for a total value of $214,000.00. The disclosure for this sale can be found here. Corporate insiders own 35.99% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC purchased a new stake in Axonics Modulation Technologies in the second quarter valued at approximately $32,000. BNP Paribas Arbitrage SA purchased a new stake in Axonics Modulation Technologies in the second quarter valued at approximately $35,000. Bank of Montreal Can boosted its position in Axonics Modulation Technologies by 963.7% in the second quarter. Bank of Montreal Can now owns 1,436 shares of the company’s stock valued at $58,000 after buying an additional 1,301 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Axonics Modulation Technologies by 84.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,300 shares of the company’s stock valued at $94,000 after buying an additional 1,050 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in Axonics Modulation Technologies by 130.2% in the second quarter. AdvisorNet Financial Inc now owns 2,302 shares of the company’s stock valued at $94,000 after buying an additional 1,302 shares during the last quarter. Hedge funds and other institutional investors own 33.75% of the company’s stock.

Axonics Modulation Technologies Company Profile (NASDAQ:AXNX)

Axonics Modulation Technologies, Inc, a medical technology company, focuses on the design, development, and commercialization of sacral neuromodulation solutions (SNM) solutions. The SNM therapy is primarily used to treat patients with overactive bladder, including urinary urgency incontinence and urinary urgency frequency, fecal incontinence, and urinary retention.

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