Svb Leerink began coverage on shares of Axonics Modulation Technologies (NASDAQ:AXNX) in a research note published on Tuesday, BenzingaRatingsTable reports. The firm issued an outperform rating and a $45.00 price target on the stock. Svb Leerink also issued estimates for Axonics Modulation Technologies’ Q3 2019 earnings at ($0.75) EPS, Q4 2019 earnings at ($0.78) EPS, FY2019 earnings at ($2.68) EPS, Q1 2020 earnings at ($0.51) EPS, Q2 2020 earnings at ($0.34) EPS, Q3 2020 earnings at ($0.26) EPS, Q4 2020 earnings at ($0.24) EPS, FY2020 earnings at ($1.35) EPS, Q1 2021 earnings at ($0.10) EPS, Q2 2021 earnings at ($0.05) EPS, FY2021 earnings at ($0.13) EPS, FY2022 earnings at $1.30 EPS and FY2023 earnings at $1.95 EPS.
A number of other equities analysts have also recently issued reports on the company. Needham & Company LLC started coverage on Axonics Modulation Technologies in a report on Tuesday, September 3rd. They set a buy rating and a $43.00 price objective for the company. Zacks Investment Research upgraded Axonics Modulation Technologies from a strong sell rating to a hold rating in a report on Wednesday, August 14th. Leerink Swann started coverage on Axonics Modulation Technologies in a report on Tuesday. They set an outperform rating and a $45.00 price objective for the company. Bank of America boosted their price objective on Axonics Modulation Technologies from $35.00 to $40.00 and gave the company a buy rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Co boosted their price objective on Axonics Modulation Technologies from $35.00 to $47.00 and gave the company an outperform rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $36.49.
AXNX opened at $31.17 on Tuesday. The business has a fifty day moving average of $33.53 and a 200 day moving average of $30.41. Axonics Modulation Technologies has a 52-week low of $11.95 and a 52-week high of $43.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 11.51 and a current ratio of 12.21.
Axonics Modulation Technologies (NASDAQ:AXNX) last posted its quarterly earnings data 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). Axonics Modulation Technologies had a negative net margin of 1,515.61% and a negative return on equity of 59.67%. The business had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $1.04 million. The business’s quarterly revenue was up 12300.0% on a year-over-year basis. On average, analysts expect that Axonics Modulation Technologies will post -2.38 EPS for the current fiscal year.
In other news, Director Nancy Lynn Md Snyderman bought 2,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was acquired at an average cost of $37.12 per share, with a total value of $74,240.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael V. Williamson sold 5,000 shares of Axonics Modulation Technologies stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $42.80, for a total value of $214,000.00. The disclosure for this sale can be found here. Insiders own 35.99% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC bought a new stake in Axonics Modulation Technologies during the 2nd quarter valued at $32,000. BNP Paribas Arbitrage SA bought a new stake in Axonics Modulation Technologies during the 2nd quarter valued at $35,000. Ladenburg Thalmann Financial Services Inc. raised its position in Axonics Modulation Technologies by 84.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,300 shares of the company’s stock valued at $94,000 after purchasing an additional 1,050 shares in the last quarter. Bank of Montreal Can raised its position in Axonics Modulation Technologies by 963.7% during the 2nd quarter. Bank of Montreal Can now owns 1,436 shares of the company’s stock valued at $58,000 after purchasing an additional 1,301 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in Axonics Modulation Technologies by 130.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 2,302 shares of the company’s stock valued at $94,000 after purchasing an additional 1,302 shares in the last quarter. 33.75% of the stock is owned by institutional investors and hedge funds.
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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