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

Axonics (NASDAQ:AXNX - Get Free Report)'s stock had its "hold" rating restated by stock analysts at Needham & Company LLC in a report issued on Monday, Benzinga reports.

A number of other research firms also recently commented on AXNX. Wells Fargo & Company reiterated an "equal weight" rating and set a $71.00 target price (up from $68.00) on shares of Axonics in a research report on Wednesday, January 10th. SVB Leerink restated a "market perform" rating and issued a $71.00 price target on shares of Axonics in a report on Friday, January 12th. Wolfe Research downgraded shares of Axonics from an "outperform" rating to a "peer perform" rating in a report on Tuesday, January 9th. CL King reaffirmed a "neutral" rating on shares of Axonics in a research note on Friday, January 12th. Finally, Truist Financial restated a "hold" rating and set a $71.00 price objective (down from $73.00) on shares of Axonics in a report on Friday, January 12th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $70.73.

Axonics Trading Up 0.5 %

Shares of AXNX stock traded up $0.31 on Monday, reaching $67.59. 195,794 shares of the stock were exchanged, compared to its average volume of 1,199,770. Axonics has a twelve month low of $47.59 and a twelve month high of $69.68. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -210.09 and a beta of 0.60. The business's 50 day moving average price is $67.80 and its 200 day moving average price is $63.32.

Axonics (NASDAQ:AXNX - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.38) earnings per share 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 company had revenue of $91.41 million for the quarter, compared to analyst estimates of $89.79 million. During the same period in the previous year, the business posted ($0.19) EPS. The firm's revenue for the quarter was up 29.4% compared to the same quarter last year. Equities research analysts forecast that Axonics will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On Axonics

Several institutional investors have recently modified their holdings of the business. FMR LLC increased its holdings in Axonics by 71.8% in the third quarter. FMR LLC now owns 4,558,444 shares of the company's stock valued at $255,820,000 after purchasing an additional 1,904,955 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Axonics during the third quarter worth about $35,745,000. Norges Bank acquired a new stake in shares of Axonics in the fourth quarter valued at approximately $37,645,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Axonics during the 1st quarter worth about $16,573,000. Finally, Intrinsic Edge Capital Management LLC boosted its position in Axonics by 99.1% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 381,070 shares of the company's stock valued at $23,714,000 after purchasing an additional 189,716 shares during the last quarter. Institutional investors and hedge funds own 99.48% of the company's stock.

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.