Brokerages Set $21.00 Price Target for Axonics Modulation Technologies Inc (AXNX)

Axonics Modulation Technologies Inc (NASDAQ:AXNX) has been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price target of $21.00 for the company and are anticipating that the company will post ($0.48) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Axonics Modulation Technologies an industry rank of 101 out of 257 based on the ratings given to its competitors.

AXNX has been the topic of several recent analyst reports. SunTrust Banks initiated coverage on Axonics Modulation Technologies in a research note on Monday, November 26th. They issued a “buy” rating and a $20.00 price target on the stock. Morgan Stanley initiated coverage on Axonics Modulation Technologies in a research note on Sunday. They issued an “overweight” rating and a $14.92 price target on the stock. Wells Fargo & Co initiated coverage on Axonics Modulation Technologies in a research note on Monday, November 26th. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, Bank of America initiated coverage on Axonics Modulation Technologies in a research note on Monday, November 26th. They issued a “buy” rating and a $23.00 price target on the stock.

AXNX traded up $0.33 during trading on Wednesday, hitting $14.34. The company’s stock had a trading volume of 200,456 shares, compared to its average volume of 174,772. Axonics Modulation Technologies has a twelve month low of $11.95 and a twelve month high of $17.00.

In other Axonics Modulation Technologies news, major shareholder Cormorant Asset Management, Lp purchased 133,333 shares of the company’s stock in a transaction on Wednesday, October 31st. The shares were purchased at an average cost of $15.00 per share, with a total value of $1,999,995.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Healthcare Holding B.V. Gilde purchased 866,666 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $12,999,990.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,533,332 shares of company stock worth $22,999,980.

About Axonics Modulation Technologies

Axonics Modulation Technologies, Inc, a medical technology company, focuses on the design, development, and commercialization of sacral neuromodulation solutions (SNM) solutions. The SNM therapy is primarily used to treat patients with overactive bladder, fecal incontinence, and urinary retention. The company was formerly known as American Restorative Medicine, Inc and changed its name to Axonics Modulation Technologies, Inc in August 2013.

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