Axonics Modulation Technologies (NASDAQ:AXNX) Coverage Initiated at Svb Leerink

Svb Leerink began coverage on shares of Axonics Modulation Technologies (NASDAQ:AXNX) in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. The firm issued an outperform rating and a $45.00 price target on the stock. Svb Leerink also issued estimates for Axonics Modulation Technologies’ Q3 2019 earnings at ($0.75) EPS, Q4 2019 earnings at ($0.78) EPS, FY2019 earnings at ($2.68) EPS, Q1 2020 earnings at ($0.51) EPS, Q2 2020 earnings at ($0.34) EPS, Q3 2020 earnings at ($0.26) EPS, Q4 2020 earnings at ($0.24) EPS, FY2020 earnings at ($1.35) EPS, Q1 2021 earnings at ($0.10) EPS, Q2 2021 earnings at ($0.05) EPS, FY2021 earnings at ($0.13) EPS, FY2022 earnings at $1.30 EPS and FY2023 earnings at $1.95 EPS.

Several other equities analysts have also recently issued reports on the company. Leerink Swann began coverage on Axonics Modulation Technologies in a report on Tuesday. They issued an outperform rating and a $45.00 price target on the stock. Bank of America raised their price target on Axonics Modulation Technologies from $35.00 to $40.00 and gave the company a buy rating in a report on Tuesday, September 10th. Wells Fargo & Co raised their target price on Axonics Modulation Technologies from $35.00 to $47.00 and gave the stock an outperform rating in a report on Tuesday, July 2nd. Needham & Company LLC began coverage on Axonics Modulation Technologies in a report on Tuesday, September 3rd. They set a buy rating and a $43.00 target price on the stock. Finally, Zacks Investment Research upgraded Axonics Modulation Technologies from a strong sell rating to a hold rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $36.49.

Shares of NASDAQ:AXNX opened at $29.80 on Tuesday. Axonics Modulation Technologies has a twelve month low of $11.95 and a twelve month high of $43.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 11.51 and a current ratio of 12.21. The business has a fifty day moving average of $33.65 and a 200-day moving average of $30.36.

Axonics Modulation Technologies (NASDAQ:AXNX) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.17). The firm had revenue of $1.49 million during the quarter, compared to the consensus estimate of $1.04 million. Axonics Modulation Technologies had a negative net margin of 1,515.61% and a negative return on equity of 59.67%. The company’s revenue for the quarter was up 12300.0% compared to the same quarter last year. As a group, research analysts forecast that Axonics Modulation Technologies will post -2.38 earnings per share for the current year.

In other news, CEO Raymond W. Cohen bought 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $30.41 per share, with a total value of $106,435.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael V. Williamson sold 5,000 shares of Axonics Modulation Technologies stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $42.80, for a total value of $214,000.00. The disclosure for this sale can be found here. Company insiders own 35.99% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC acquired a new stake in Axonics Modulation Technologies in the 2nd quarter valued at approximately $32,000. BNP Paribas Arbitrage SA acquired a new position in shares of Axonics Modulation Technologies during the 2nd quarter worth approximately $35,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Axonics Modulation Technologies by 84.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,300 shares of the company’s stock worth $94,000 after purchasing an additional 1,050 shares during the last quarter. Bank of Montreal Can increased its position in shares of Axonics Modulation Technologies by 963.7% during the 2nd quarter. Bank of Montreal Can now owns 1,436 shares of the company’s stock worth $58,000 after purchasing an additional 1,301 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of Axonics Modulation Technologies by 130.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 2,302 shares of the company’s stock worth $94,000 after purchasing an additional 1,302 shares during the last quarter. 33.75% of the stock is currently owned by institutional investors and hedge funds.

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, including urinary urgency incontinence and urinary urgency frequency, fecal incontinence, and urinary retention.

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