Shares of Axonics, Inc. (NASDAQ:AXNX) have received a consensus rating of “Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $74.80.
A number of research analysts recently commented on the stock. Needham & Company LLC lowered their price objective on shares of Axonics from $71.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, December 14th. SVB Leerink upped their target price on shares of Axonics from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 5th. Piper Sandler decreased their price objective on shares of Axonics from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, November 5th. Zacks Investment Research downgraded shares of Axonics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 11th. Finally, Morgan Stanley dropped their target price on shares of Axonics from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, January 7th.
In other news, CMO John Woock sold 6,251 shares of the company’s stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $48.25, for a total transaction of $301,610.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Rinda Sama sold 11,882 shares of the company’s stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $48.25, for a total value of $573,306.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,930 shares of company stock worth $4,884,223. Company insiders own 2.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXNX. Macquarie Group Ltd. grew its stake in Axonics by 522.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,262,798 shares of the company’s stock valued at $80,074,000 after purchasing an additional 1,060,016 shares during the period. Millennium Management LLC lifted its holdings in Axonics by 2,958.8% during the 2nd quarter. Millennium Management LLC now owns 1,062,126 shares of the company’s stock worth $67,349,000 after purchasing an additional 1,027,402 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Axonics in the 4th quarter valued at about $38,882,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Axonics in the 4th quarter valued at about $30,653,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Axonics by 400.5% in the 3rd quarter. Goldman Sachs Group Inc. now owns 609,952 shares of the company’s stock valued at $39,702,000 after acquiring an additional 488,095 shares in the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:AXNX opened at $48.85 on Friday. Axonics has a fifty-two week low of $42.37 and a fifty-two week high of $79.81. The company has a market cap of $2.26 billion, a PE ratio of -26.69 and a beta of 0.42. The company’s 50-day moving average price is $52.70 and its 200 day moving average price is $61.83.
Axonics Company Profile
Axonics, Inc is a medical device company, which engages in developing and commercializing of novel implantable sacral neuromodulation (SNM) devices to treat patients with bladder and bowel dysfunction. Its product Bulkamid, which is a urethral bulking agent used to treat stress urinary incontinence in women.