Zacks: Axonics Modulation Technologies Inc (NASDAQ:AXNX) Given Consensus Recommendation of “Strong Buy” by Analysts

Axonics Modulation Technologies Inc (NASDAQ:AXNX) has received a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1 year consensus price objective of $33.00 for the company and are forecasting that the company will post ($0.51) earnings per share for the current quarter, according to Zacks. Zacks has also given Axonics Modulation Technologies an industry rank of 104 out of 256 based on the ratings given to related companies.

AXNX has been the topic of a number of recent analyst reports. SunTrust Banks boosted their price target on shares of Axonics Modulation Technologies to $33.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Bank of America boosted their price target on shares of Axonics Modulation Technologies from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Zacks Investment Research upgraded shares of Axonics Modulation Technologies from a “sell” rating to a “hold” rating in a research report on Monday, May 13th.

In other news, SVP Michael V. Williamson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were 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 through this hyperlink. Also, COO Rinda Sama sold 13,345 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $28.03, for a total transaction of $374,060.35. The disclosure for this sale can be found here.

Several hedge funds have recently made changes to their positions in AXNX. FMR LLC acquired a new position in shares of Axonics Modulation Technologies during the fourth quarter worth approximately $24,942,000. RTW Investments LP acquired a new position in shares of Axonics Modulation Technologies during the fourth quarter worth approximately $16,551,000. Millennium Management LLC acquired a new position in shares of Axonics Modulation Technologies during the fourth quarter worth approximately $12,072,000. Perceptive Advisors LLC acquired a new position in shares of Axonics Modulation Technologies during the fourth quarter worth approximately $10,935,000. Finally, BlackRock Inc. acquired a new position in shares of Axonics Modulation Technologies during the fourth quarter worth approximately $5,015,000. Institutional investors own 29.27% of the company’s stock.

Shares of Axonics Modulation Technologies stock opened at $40.97 on Friday. Axonics Modulation Technologies has a 12-month low of $11.95 and a 12-month high of $41.34. The firm has a market cap of $1.05 billion and a PE ratio of -8.83. The stock’s 50-day moving average price is $33.07. The company has a quick ratio of 22.07, a current ratio of 22.83 and a debt-to-equity ratio of 0.16.

Axonics Modulation Technologies (NASDAQ:AXNX) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.47) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.07). The business had revenue of $1.08 million for the quarter, compared to analysts’ expectations of $0.53 million. On average, equities analysts predict that Axonics Modulation Technologies will post -2.03 EPS for the current year.

About Axonics Modulation Technologies

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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