Axonics Modulation Technologies, Inc. (NASDAQ:AXNX) Given Average Recommendation of “Buy” by Analysts

Shares of Axonics Modulation Technologies, Inc. (NASDAQ:AXNX) have been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $58.89.

AXNX has been the subject of a number of research analyst reports. SVB Leerink raised their price target on Axonics Modulation Technologies from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 12th. BidaskClub upgraded Axonics Modulation Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 28th. Wells Fargo & Company increased their price objective on Axonics Modulation Technologies from $51.00 to $57.00 in a report on Thursday, November 5th. Needham & Company LLC increased their price objective on Axonics Modulation Technologies from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Finally, Zacks Investment Research downgraded Axonics Modulation Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, December 8th.

AXNX stock traded down $0.22 on Monday, reaching $47.78. The company’s stock had a trading volume of 195,513 shares, compared to its average volume of 466,613. The business has a fifty day simple moving average of $45.65 and a two-hundred day simple moving average of $43.23. Axonics Modulation Technologies has a 12-month low of $15.25 and a 12-month high of $52.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.48 and a current ratio of 8.62.

Axonics Modulation Technologies (NASDAQ:AXNX) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.28. Axonics Modulation Technologies had a negative return on equity of 28.05% and a negative net margin of 76.62%. The company had revenue of $35.24 million during the quarter, compared to analyst estimates of $22.95 million. During the same quarter last year, the firm posted ($0.89) earnings per share. The firm’s revenue was up 2592.4% on a year-over-year basis. As a group, research analysts expect that Axonics Modulation Technologies will post -1.52 earnings per share for the current year.

In related news, COO Rinda Sama sold 12,863 shares of Axonics Modulation Technologies stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $48.03, for a total value of $617,809.89. Following the completion of the sale, the chief operating officer now directly owns 127,374 shares in the company, valued at approximately $6,117,773.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO John Woock sold 10,000 shares of Axonics Modulation Technologies stock in a transaction dated Friday, November 27th. The stock was sold at an average price of $44.67, for a total value of $446,700.00. Following the completion of the sale, the chief marketing officer now owns 77,348 shares of the company’s stock, valued at $3,455,135.16. The disclosure for this sale can be found here. Insiders have sold 41,926 shares of company stock valued at $1,924,424 over the last 90 days. Corporate insiders own 25.74% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its holdings in Axonics Modulation Technologies by 2.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 15,047 shares of the company’s stock worth $768,000 after buying an additional 334 shares in the last quarter. UBS Group AG increased its holdings in Axonics Modulation Technologies by 6.5% in the 2nd quarter. UBS Group AG now owns 7,848 shares of the company’s stock worth $276,000 after buying an additional 478 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Axonics Modulation Technologies by 8.2% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 9,213 shares of the company’s stock worth $470,000 after buying an additional 700 shares in the last quarter. Swiss National Bank increased its holdings in Axonics Modulation Technologies by 1.5% in the 3rd quarter. Swiss National Bank now owns 48,000 shares of the company’s stock worth $2,450,000 after buying an additional 700 shares in the last quarter. Finally, Nisa Investment Advisors LLC bought a new stake in Axonics Modulation Technologies in the 3rd quarter worth about $46,000. Institutional investors own 74.91% of the company’s stock.

About Axonics Modulation Technologies

Axonics Modulation Technologies, Inc, a medical technology company, engages in the development and commercialization of sacral neuromodulation (SNM) systems in the United States and internationally. 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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Analyst Recommendations for Axonics Modulation Technologies (NASDAQ:AXNX)

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