Axonics Modulation Technologies (NASDAQ:AXNX) had its target price lifted by Morgan Stanley from $53.00 to $58.00 in a report released on Thursday morning, The Fly reports. They currently have an overweight rating on the stock.
Several other equities research analysts have also recently weighed in on the company. Piper Sandler upped their target price on Axonics Modulation Technologies from $50.00 to $57.00 and gave the stock an overweight rating in a research note on Thursday, November 5th. Needham & Company LLC upped their target price on Axonics Modulation Technologies from $57.00 to $62.00 and gave the stock a buy rating in a research note on Thursday, November 5th. SVB Leerink upped their target price 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. ValuEngine cut Axonics Modulation Technologies from a buy rating to a hold rating in a research note on Tuesday, September 22nd. Finally, Guggenheim assumed coverage on Axonics Modulation Technologies in a research note on Friday, October 23rd. They issued a buy rating and a $77.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $58.40.
Shares of Axonics Modulation Technologies stock opened at $51.83 on Thursday. The company has a quick ratio of 7.48, a current ratio of 8.62 and a debt-to-equity ratio of 0.02. Axonics Modulation Technologies has a 12 month low of $15.25 and a 12 month high of $53.24. The business has a fifty day simple moving average of $46.48 and a 200 day simple moving average of $44.04. The stock has a market cap of $2.06 billion, a PE ratio of -26.44 and a beta of 0.02.
Axonics Modulation Technologies (NASDAQ:AXNX) last announced its quarterly earnings data 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 business had revenue of $35.24 million during the quarter, compared to analysts’ expectations of $22.95 million. During the same period in the previous year, the firm earned ($0.89) earnings per share. The firm’s quarterly revenue was up 2592.4% compared to the same quarter last year. Analysts expect that Axonics Modulation Technologies will post -1.52 EPS for the current fiscal year.
In related news, COO Rinda Sama sold 10,000 shares of Axonics Modulation Technologies stock in a transaction that occurred on Wednesday, November 25th. The shares were sold at an average price of $43.91, for a total value of $439,100.00. Following the sale, the chief operating officer now owns 99,964 shares of the company’s stock, valued at approximately $4,389,419.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 41,926 shares of company stock worth $1,924,424 in the last ninety days. 25.74% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in AXNX. State Street Corp increased its stake in Axonics Modulation Technologies by 5.1% in the 3rd quarter. State Street Corp now owns 781,843 shares of the company’s stock worth $39,905,000 after purchasing an additional 38,219 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Axonics Modulation Technologies by 52.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 156,977 shares of the company’s stock worth $5,512,000 after buying an additional 53,684 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Axonics Modulation Technologies in the 2nd quarter worth $5,583,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Axonics Modulation Technologies in the 2nd quarter worth $1,661,000. Finally, TD Asset Management Inc. bought a new stake in shares of Axonics Modulation Technologies in the 2nd quarter worth $329,000. 84.23% of the stock is currently owned by institutional investors.
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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