Axonics Modulation Technologies (NASDAQ:AXNX) Now Covered by Analysts at Guggenheim

Guggenheim initiated coverage on shares of Axonics Modulation Technologies (NASDAQ:AXNX) in a report published on Friday, AnalystRatings.net reports. The firm issued a buy rating and a $77.00 price target on the stock.

A number of other brokerages have also recently weighed in on AXNX. Robert W. Baird started coverage on shares of Axonics Modulation Technologies in a report on Wednesday, September 2nd. They set an outperform rating and a $52.00 target price for the company. ValuEngine lowered Axonics Modulation Technologies from a buy rating to a hold rating in a research report on Tuesday, September 22nd. Zacks Investment Research lowered Axonics Modulation Technologies from a hold rating to a sell rating in a research report on Wednesday, October 7th. BidaskClub downgraded Axonics Modulation Technologies from a buy rating to a hold rating in a report on Thursday, October 15th. Finally, Morgan Stanley upped their price objective on shares of Axonics Modulation Technologies from $42.00 to $53.00 and gave the company an overweight rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $52.20.

Axonics Modulation Technologies stock opened at $49.93 on Friday. Axonics Modulation Technologies has a 12-month low of $15.25 and a 12-month high of $52.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.88 and a quick ratio of 9.91. The stock has a market capitalization of $1.97 billion, a PE ratio of -19.13 and a beta of 0.09. The firm has a 50 day simple moving average of $45.52 and a 200-day simple moving average of $39.81.

Axonics Modulation Technologies (NASDAQ:AXNX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.11. Axonics Modulation Technologies had a negative net margin of 155.91% and a negative return on equity of 44.13%. The firm had revenue of $15.21 million for the quarter, compared to analysts’ expectations of $5.06 million. During the same period in the previous year, the business earned ($0.68) earnings per share. Axonics Modulation Technologies’s revenue for the quarter was up 922.4% compared to the same quarter last year. On average, analysts forecast that Axonics Modulation Technologies will post -1.93 earnings per share for the current fiscal year.

In other Axonics Modulation Technologies news, Director Bakker Juliet Tammenoms sold 9,167 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $42.67, for a total transaction of $391,155.89. Following the transaction, the director now directly owns 3,500 shares in the company, valued at $149,345. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Alfred J. Ford, Jr. sold 37,667 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $40.38, for a total value of $1,520,993.46. The disclosure for this sale can be found here. Insiders sold 106,894 shares of company stock valued at $4,484,666 over the last quarter. Corporate insiders own 25.74% of the company’s stock.

A number of large investors have recently bought and sold shares of AXNX. UBS Group AG boosted its holdings in Axonics Modulation Technologies by 6.5% during the second quarter. UBS Group AG now owns 7,848 shares of the company’s stock valued at $276,000 after acquiring an additional 478 shares during the period. Deutsche Bank AG grew its holdings in Axonics Modulation Technologies by 11.3% in the 1st quarter. Deutsche Bank AG now owns 8,383 shares of the company’s stock valued at $213,000 after buying an additional 854 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in Axonics Modulation Technologies in the 3rd quarter worth approximately $46,000. Private Advisor Group LLC acquired a new position in shares of Axonics Modulation Technologies during the second quarter worth approximately $32,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Axonics Modulation Technologies by 43.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,078 shares of the company’s stock valued at $108,000 after acquiring an additional 935 shares during the period. Institutional investors and hedge funds own 76.30% of the company’s stock.

Axonics Modulation Technologies Company Profile

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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Analyst Recommendations for Axonics Modulation Technologies (NASDAQ:AXNX)

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