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

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

AXNX has been the subject of several other research reports. CL King reaffirmed a neutral rating on shares of Axonics in a report on Friday, January 12th. Wolfe Research lowered Axonics from an outperform rating to a peer perform rating in a research report on Tuesday, January 9th. Royal Bank of Canada reiterated a sector perform rating and issued a $71.00 price target on shares of Axonics in a research report on Thursday, February 29th. Truist Financial reaffirmed a hold rating and set a $71.00 price objective (down from $73.00) on shares of Axonics in a research note on Friday, January 12th. Finally, Piper Sandler reissued a neutral rating and issued a $71.00 target price (down 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Axonics presently has a consensus rating of Hold and a consensus price target of $70.73.

Axonics Stock Performance

AXNX stock opened at $67.59 on Monday. Axonics has a 1 year low of $47.59 and a 1 year high of $69.68. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -211.22 and a beta of 0.60. The stock’s fifty day moving average is $67.77 and its two-hundred day moving average is $63.43.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Stratos Wealth Partners LTD. bought a new stake in shares of Axonics in the 4th quarter valued at approximately $1,298,000. Invesco Ltd. grew its position in Axonics by 5.8% in the third quarter. Invesco Ltd. now owns 1,634,984 shares of the company’s stock worth $91,755,000 after acquiring an additional 90,132 shares in the last quarter. Algert Global LLC acquired a new position in shares of Axonics during the 3rd quarter worth $1,313,000. Hedges Asset Management LLC raised its holdings 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 valued at $535,000 after purchasing an additional 525 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its stake in shares of Axonics by 14.4% in the 4th quarter. RiverPark Advisors LLC now owns 1,185 shares of the company’s stock valued at $74,000 after purchasing an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 99.48% of the company’s stock.

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.