Brokerages Set Axonics, Inc. (NASDAQ:AXNX) Price Target at $70.73

Axonics, Inc. (NASDAQ:AXNX - Get Free Report) has earned a consensus rating of "Hold" from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $70.73.

A number of research firms recently weighed in on AXNX. Piper Sandler restated a "neutral" rating and set a $71.00 price target (down from $75.00) on shares of Axonics in a research report on Friday, January 12th. Wells Fargo & Company restated an "equal weight" rating and set a $71.00 price target (up from $68.00) on shares of Axonics in a research report on Wednesday, January 10th. Truist Financial restated a "hold" rating and set a $71.00 price target (down from $73.00) on shares of Axonics in a research report on Friday, January 12th. SVB Leerink restated a "market perform" rating and set a $71.00 price target on shares of Axonics in a research report on Friday, January 12th. Finally, CL King restated a "neutral" rating on shares of Axonics in a research report on Friday, January 12th.

Insider Activity

In other news, CEO Raymond W. Cohen sold 35,161 shares of the business's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $2,381,806.14. Following the sale, the chief executive officer now directly owns 188,835 shares of the company's stock, valued at approximately $12,791,682.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kari Leigh Keese sold 3,489 shares of the business's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $236,344.86. Following the sale, the chief financial officer now directly owns 43,323 shares of the company's stock, valued at approximately $2,934,700.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Raymond W. Cohen sold 35,161 shares of the company's stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $2,381,806.14. Following the sale, the chief executive officer now directly owns 188,835 shares in the company, valued at $12,791,682.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,836 shares of company stock valued at $5,563,729. Company insiders own 1.85% of the company's stock.

Institutional Investors Weigh In On Axonics

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in Axonics by 5.8% during the 3rd quarter. Invesco Ltd. now owns 1,634,984 shares of the company's stock worth $91,755,000 after buying an additional 90,132 shares during the period. Algert Global LLC purchased a new stake in Axonics during the 3rd quarter worth approximately $1,313,000. Hedges Asset Management LLC increased its position in shares of Axonics by 6.5% in 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 during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Axonics in the 3rd quarter valued at approximately $68,499,000. Finally, Jennison Associates LLC increased its position in shares of Axonics by 12.2% in the 3rd quarter. Jennison Associates LLC now owns 225,957 shares of the company's stock valued at $12,681,000 after purchasing an additional 24,631 shares during the last quarter. 99.48% of the stock is owned by hedge funds and other institutional investors.

Axonics Stock Down 2.7 %

Shares of NASDAQ AXNX traded down $1.91 during trading on Thursday, hitting $67.74. The company had a trading volume of 2,921,000 shares, compared to its average volume of 1,371,771. The stock has a fifty day simple moving average of $68.12 and a two-hundred day simple moving average of $61.59. Axonics has a fifty-two week low of $47.59 and a fifty-two week high of $69.68. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -521.04 and a beta of 0.56.

Axonics (NASDAQ:AXNX - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. Axonics had a negative net margin of 1.66% and a negative return on equity of 1.00%. The business had revenue of $109.70 million for the quarter, compared to analyst estimates of $107.33 million. During the same quarter last year, the business earned $0.01 earnings per share. The company's revenue for the quarter was up 27.7% compared to the same quarter last year. On average, analysts anticipate that Axonics will post 0.32 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.