Axonics (NASDAQ:AXNX) Releases Quarterly Earnings Results, Misses Expectations By $0.32 EPS

Axonics (NASDAQ:AXNX) issued its quarterly earnings data on Tuesday. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32), Briefing.com reports. Axonics had a negative return on equity of 2.59% and a negative net margin of 4.12%. The firm had revenue of $91.41 million for the quarter, compared to the consensus estimate of $89.79 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The company’s revenue was up 29.4% on a year-over-year basis.

Axonics Trading Up 0.5 %

AXNX opened at $66.87 on Thursday. Axonics has a twelve month low of $47.59 and a twelve month high of $69.68. The company has a fifty day moving average of $67.84 and a 200-day moving average of $63.07.

Analysts Set New Price Targets

AXNX has been the topic of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Axonics in a research note on Wednesday, January 17th. SVB Leerink reissued a “market perform” rating and set a $71.00 target price on shares of Axonics in a report on Friday, January 12th. Wolfe Research cut shares of Axonics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $71.00 price target on shares of Axonics in a report on Thursday, February 29th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $71.00 price objective (up previously from $68.00) on shares of Axonics in a research note on Wednesday, January 10th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Axonics has an average rating of “Hold” and an average target price of $70.73.

About Axonics

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.