Axonics (NASDAQ:AXNX – Get Rating) had its target price lowered by Truist Financial from $90.00 to $82.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.
AXNX has been the topic of several other reports. Piper Sandler lifted their target price on shares of Axonics from $82.00 to $84.00 and gave the company an overweight rating in a research report on Wednesday, October 5th. Wells Fargo & Company increased their target price on Axonics from $83.00 to $90.00 and gave the stock an overweight rating in a report on Tuesday, November 1st. Jefferies Financial Group assumed coverage on Axonics in a research note on Wednesday, October 12th. They issued a hold rating and a $75.00 price target on the stock. Royal Bank of Canada assumed coverage on Axonics in a research note on Friday, October 21st. They set an outperform rating and a $85.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of Axonics from $80.00 to $92.00 and gave the company an overweight rating in a research note on Tuesday, October 11th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $79.89.
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Axonics Stock Performance
Shares of AXNX opened at $62.87 on Tuesday. The company has a 50-day simple moving average of $65.61 and a 200-day simple moving average of $66.02. Axonics has a 52 week low of $38.41 and a 52 week high of $79.92. The firm has a market capitalization of $3.11 billion, a P/E ratio of -38.10 and a beta of 0.39.
Axonics (NASDAQ:AXNX – Get Rating) last announced its quarterly earnings data on Monday, October 31st. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.13. The company had revenue of $70.38 million for the quarter, compared to analyst estimates of $62.98 million. Axonics had a negative return on equity of 15.63% and a negative net
margin of 31.35%. Axonics's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.38) EPS. As a group, equities analysts forecast that Axonics will post -1.58 earnings per share for the current year.
Insider Transactions at Axonics
In related news, Director Esteban Lopez sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $67.42, for a total value of $134,840.00. Following the completion of the transaction, the director now owns 3,600 shares in the company, valued at approximately $242,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.31% of the stock is owned by company insiders.
Institutional Trading of Axonics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXNX. Bank of New York Mellon Corp lifted its position in Axonics by 11.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 235,276 shares of the company's stock valued at $16,573,000 after purchasing an additional 25,030 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in Axonics in the third quarter valued at approximately $143,000. Glenmede Trust Co. NA boosted its stake in Axonics by 33.4% in the third quarter. Glenmede Trust Co. NA now owns 9,963 shares of the company's stock valued at $701,000 after acquiring an additional 2,497 shares during the last quarter. Almanack Investment Partners LLC. acquired a new stake in Axonics during the 3rd quarter worth $28,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Axonics during the 3rd quarter valued at $487,000. 97.49% of the stock is currently owned by institutional investors and hedge funds.
Axonics Company Profile
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Axonics, Inc, a medical technology company, engages in the development and commercialization of sacral neuromodulation (SNM) systems. The company's SNM systems are used to treat patients with overactive bladder, including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence and non-obstructive urinary retention.
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