Axonics (NASDAQ:AXNX) Rating Reiterated by Needham & Company LLC

Axonics (NASDAQ:AXNX)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a report released on Monday, Benzinga reports.

A number of other analysts have also recently issued reports on AXNX. Wolfe Research cut 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. CL King reiterated a “neutral” rating on shares of Axonics in a research report on Friday, January 12th. Truist Financial reiterated a “hold” rating and issued a $71.00 price target (down from $73.00) on shares of Axonics in a research report on Friday, January 12th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $71.00 target price (up previously from $68.00) on shares of Axonics in a report on Wednesday, January 10th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Axonics has an average rating of “Hold” and an average price target of $70.73.

Axonics Stock Performance

Shares of Axonics stock traded down $0.05 during trading on Monday, hitting $67.23. 15,218 shares of the stock traded hands, compared to its average volume of 1,197,635. The stock has a market cap of $3.43 billion, a P/E ratio of -210.13 and a beta of 0.60. Axonics has a twelve month low of $47.59 and a twelve month high of $69.68. The company has a fifty day moving average price of $67.80 and a two-hundred day moving average price of $63.32.

Axonics (NASDAQ:AXNX) last posted its earnings results on Tuesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $91.41 million during the quarter, compared to analyst estimates of $89.79 million. During the same quarter last year, the firm posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. On average, equities research analysts expect that Axonics will post 0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Axonics

Several large investors have recently made changes to their positions in the company. Whittier Trust Co. lifted its stake in shares of Axonics by 59.1% during the first quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock valued at $79,000 after acquiring an additional 424 shares during the period. Fifth Lane Capital LP acquired a new position in Axonics in the first quarter valued at about $5,518,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in Axonics in the first quarter valued at about $16,573,000. Janney Montgomery Scott LLC acquired a new position in Axonics in the first quarter valued at about $218,000. Finally, Inspirion Wealth Advisors LLC acquired a new position in Axonics in the first quarter valued at about $207,000. Institutional investors and hedge funds 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.