Axonics (NASDAQ:AXNX) PT Raised to $82.00 at Piper Sandler

Axonics (NASDAQ:AXNXGet Rating) had its price target hoisted by Piper Sandler from $77.00 to $82.00 in a report issued on Tuesday morning, The Fly reports. They currently have an overweight rating on the stock.

AXNX has been the topic of a number of other reports. Truist Financial increased their price target on Axonics from $64.00 to $75.00 and gave the stock a buy rating in a report on Wednesday, July 20th. Wolfe Research started coverage on Axonics in a report on Tuesday, April 5th. They set an outperform rating and a $69.00 price target on the stock. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $78.00.

Axonics Price Performance

Shares of AXNX stock opened at $71.00 on Tuesday. The business’s 50 day simple moving average is $58.92 and its 200 day simple moving average is $55.96. Axonics has a one year low of $38.41 and a one year high of $79.81. The stock has a market capitalization of $3.34 billion, a PE ratio of -42.01 and a beta of 0.46.

Axonics (NASDAQ:AXNXGet Rating) last announced its earnings results on Monday, August 1st. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.10. Axonics had a negative return on equity of 16.34% and a negative net margin of 35.19%. The business had revenue of $68.98 million for the quarter, compared to analysts’ expectations of $60.05 million. During the same period in the prior year, the business posted ($0.59) earnings per share. The firm’s revenue was up 50.4% on a year-over-year basis. As a group, research analysts expect that Axonics will post -1.86 earnings per share for the current year.

Insider Buying and Selling at Axonics

In related news, Director Jane E. Kiernan sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $60.00, for a total transaction of $315,000.00. Following the transaction, the director now directly owns 14,761 shares of the company’s stock, valued at approximately $885,660. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.31% of the company’s stock.

Hedge Funds Weigh In On Axonics

A number of large investors have recently bought and sold shares of AXNX. Marshall Wace LLP purchased a new position in Axonics in the 4th quarter worth approximately $38,882,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Axonics in the 4th quarter worth approximately $30,653,000. Champlain Investment Partners LLC grew its position in shares of Axonics by 113.9% in the 4th quarter. Champlain Investment Partners LLC now owns 702,790 shares of the company’s stock worth $39,356,000 after buying an additional 374,160 shares during the last quarter. Jennison Associates LLC grew its position in shares of Axonics by 102.2% in the 1st quarter. Jennison Associates LLC now owns 673,518 shares of the company’s stock worth $42,162,000 after buying an additional 340,405 shares during the last quarter. Finally, Next Century Growth Investors LLC bought a new stake in shares of Axonics in the 1st quarter worth approximately $20,161,000. 99.69% of the stock is owned by hedge funds and other institutional investors.

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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