Brokerages Set Axonics, Inc. (NASDAQ:AXNX) PT at $69.57

Axonics, Inc. (NASDAQ:AXNX - Get Free Report) has been given an average rating of "Hold" by the nine analysts that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $69.57.

Separately, Needham & Company LLC reissued a "hold" rating on shares of Axonics in a research report on Monday, August 5th.

Insider Transactions at Axonics

In related news, CFO Kari Leigh Keese sold 2,961 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total transaction of $205,523.01. Following the sale, the chief financial officer now directly owns 40,362 shares of the company's stock, valued at $2,801,526.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.85% of the company's stock.

Institutional Investors Weigh In On Axonics

A number of large investors have recently added to or reduced their stakes in the stock. Alpine Associates Management Inc. boosted its stake in shares of Axonics by 16.2% in the 2nd quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company's stock worth $141,779,000 after buying an additional 294,100 shares during the last quarter. Magnetar Financial LLC boosted its position in Axonics by 218.3% in the first quarter. Magnetar Financial LLC now owns 1,146,019 shares of the company's stock worth $79,041,000 after purchasing an additional 785,981 shares during the last quarter. KRYGER CAPITAL Ltd bought a new stake in shares of Axonics during the 1st quarter valued at about $65,211,000. Absolute Gestao de Investimentos Ltda. purchased a new stake in shares of Axonics during the 2nd quarter valued at about $32,681,000. Finally, P Schoenfeld Asset Management LP increased its position in shares of Axonics by 65.6% during the 2nd quarter. P Schoenfeld Asset Management LP now owns 429,075 shares of the company's stock valued at $28,847,000 after purchasing an additional 170,000 shares during the last quarter. Institutional investors own 99.48% of the company's stock.

Axonics Stock Performance

Axonics stock opened at $70.24 on Monday. Axonics has a fifty-two week low of $48.30 and a fifty-two week high of $70.53. The stock's 50 day simple moving average is $69.28 and its two-hundred day simple moving average is $68.14. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -219.50 and a beta of 0.82.

Axonics (NASDAQ:AXNX - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $114.57 million for the quarter, compared to analyst estimates of $112.83 million. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. The firm's revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, analysts predict that Axonics will post 0.24 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.