Axonics (NASDAQ:AXNX) Announces Quarterly Earnings Results

Axonics (NASDAQ:AXNX - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.38) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.32), Briefing.com reports. The company had revenue of $91.41 million for the quarter, compared to the consensus estimate of $89.79 million. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. The business's revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.19) earnings per share.

Axonics Stock Performance

Shares of AXNX traded up $0.30 on Wednesday, hitting $66.87. 741,186 shares of the stock traded hands, compared to its average volume of 1,229,567. The company has a market capitalization of $3.41 billion, a PE ratio of -512.96 and a beta of 0.56. Axonics has a one year low of $47.59 and a one year high of $69.68. The business has a 50 day simple moving average of $67.86 and a 200 day simple moving average of $63.05.

Wall Street Analyst Weigh In

AXNX has been the subject of several analyst reports. SVB Leerink reiterated a "market perform" rating and issued a $71.00 price objective on shares of Axonics in a research note on Friday, January 12th. Wolfe Research lowered Axonics from an "outperform" rating to a "peer perform" rating in a report on Tuesday, January 9th. Royal Bank of Canada reiterated a "sector perform" rating and set a $71.00 target price on shares of Axonics in a research report on Thursday, February 29th. Needham & Company LLC reissued a "hold" rating on shares of Axonics in a research report on Wednesday, January 17th. Finally, CL King reaffirmed a "neutral" rating on shares of Axonics in a report on Friday, January 12th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $70.73.

About Axonics

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.