Axonics Modulation Technologies Inc (NASDAQ:AXNX) has received an average broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a one year consensus price target of $36.67 for the company and are predicting that the company will post ($0.54) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Axonics Modulation Technologies an industry rank of 57 out of 256 based on the ratings given to related companies.
A number of research analysts have recently issued reports on the company. Zacks Investment Research lowered Axonics Modulation Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Bank of America boosted their target price on Axonics Modulation Technologies from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, June 13th. SunTrust Banks boosted their target price on Axonics Modulation Technologies to $33.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, Wells Fargo & Co boosted their target price on Axonics Modulation Technologies from $35.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd.
NASDAQ AXNX traded up $3.18 during trading on Wednesday, hitting $34.00. The stock had a trading volume of 374,540 shares, compared to its average volume of 163,980. The business’s 50 day moving average is $38.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 22.83 and a quick ratio of 22.07. The company has a market capitalization of $877.45 million and a P/E ratio of -7.33. Axonics Modulation Technologies has a twelve month low of $11.95 and a twelve month high of $43.37.
Axonics Modulation Technologies (NASDAQ:AXNX) last released its earnings results on Monday, August 5th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.17). The firm had revenue of $1.49 million during the quarter, compared to analyst estimates of $1.04 million. The company’s revenue for the quarter was up 12300.0% on a year-over-year basis. On average, equities research analysts forecast that Axonics Modulation Technologies will post -2.03 EPS for the current year.
In related news, SVP Michael V. Williamson sold 5,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $36.01, for a total transaction of $180,050.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Raymond W. Cohen acquired 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $30.41 per share, for a total transaction of $106,435.00. The disclosure for this purchase can be found here. Insiders have sold 25,040 shares of company stock worth $832,724 in the last ninety days. 35.99% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in AXNX. JPMorgan Chase & Co. lifted its holdings in Axonics Modulation Technologies by 1.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 238,193 shares of the company’s stock worth $8,849,000 after buying an additional 2,752 shares in the last quarter. Homrich & Berg bought a new stake in shares of Axonics Modulation Technologies during the 2nd quarter valued at $269,000. Swiss National Bank bought a new stake in shares of Axonics Modulation Technologies during the 2nd quarter valued at $742,000. BNP Paribas Arbitrage SA bought a new stake in shares of Axonics Modulation Technologies during the 2nd quarter valued at $35,000. Finally, Ibex Investors LLC bought a new stake in shares of Axonics Modulation Technologies during the 2nd quarter valued at $245,000. 29.10% of the stock is currently owned by hedge funds and other institutional investors.
Axonics Modulation Technologies Company Profile
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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