BidaskClub cut shares of Axonics Modulation Technologies (NASDAQ:AXNX) from a strong-buy rating to a buy rating in a report published on Saturday, BidAskClub reports.

Several other equities research analysts also recently weighed in on the stock. ValuEngine raised shares of Axonics Modulation Technologies from a hold rating to a buy rating in a research report on Thursday, April 2nd. Wells Fargo & Co boosted their target price on shares of Axonics Modulation Technologies from $40.00 to $42.00 and gave the stock an overweight rating in a research report on Friday, June 5th. SunTrust Banks boosted their target price on shares of Axonics Modulation Technologies from $38.00 to $48.00 and gave the stock a buy rating in a research report on Thursday, March 5th. Needham & Company LLC reaffirmed a buy rating and set a $48.00 price objective on shares of Axonics Modulation Technologies in a research report on Monday, March 9th. Finally, Piper Sandler lowered their price objective on shares of Axonics Modulation Technologies from $48.00 to $44.00 and set an overweight rating for the company in a research report on Tuesday, April 21st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $43.00.

AXNX opened at $34.50 on Friday. The company has a 50-day moving average of $37.17 and a 200-day moving average of $31.54. The company has a market capitalization of $1.19 billion, a P/E ratio of -12.55 and a beta of 0.19. Axonics Modulation Technologies has a 1-year low of $15.25 and a 1-year high of $43.37. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.31 and a current ratio of 10.28.

Axonics Modulation Technologies (NASDAQ:AXNX) last released its earnings results on Tuesday, May 5th. The company reported ($0.43) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.17. The company had revenue of $26.30 million during the quarter, compared to the consensus estimate of $14.47 million. Axonics Modulation Technologies had a negative net margin of 208.60% and a negative return on equity of 57.95%. The company’s revenue was up 2341.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.47) EPS. As a group, sell-side analysts expect that Axonics Modulation Technologies will post -1.95 earnings per share for the current fiscal year.

In other Axonics Modulation Technologies news, insider Danny L. Dearen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $40.05, for a total transaction of $600,750.00. Following the completion of the transaction, the insider now directly owns 59,213 shares of the company’s stock, valued at approximately $2,371,480.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Danny L. Dearen sold 45,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $38.11, for a total transaction of $1,714,950.00. Following the transaction, the insider now directly owns 84,240 shares of the company’s stock, valued at $3,210,386.40. The disclosure for this sale can be found here. Insiders have sold a total of 150,020 shares of company stock valued at $5,503,480 over the last three months. 25.74% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its stake in Axonics Modulation Technologies by 212.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,606 shares of the company’s stock valued at $142,000 after purchasing an additional 3,809 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Axonics Modulation Technologies by 0.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 488,661 shares of the company’s stock worth $12,417,000 after acquiring an additional 1,336 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Axonics Modulation Technologies in the 4th quarter worth approximately $28,000. Kennedy Capital Management Inc. acquired a new stake in shares of Axonics Modulation Technologies in the 4th quarter worth approximately $5,196,000. Finally, BlackRock Inc. lifted its stake in shares of Axonics Modulation Technologies by 8.9% in the 1st quarter. BlackRock Inc. now owns 1,512,303 shares of the company’s stock worth $38,428,000 after acquiring an additional 123,303 shares during the period. 66.55% of the stock is 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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Analyst Recommendations for Axonics Modulation Technologies (NASDAQ:AXNX)

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