Axonics, Inc. (NASDAQ:AXNX) Receives Average Recommendation of “Hold” from Analysts

Shares of Axonics, Inc. (NASDAQ:AXNX) have been given an average rating of “Hold” by the eight analysts that are covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $71.00.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Axonics in a report on Friday, November 8th.

Axonics Trading Up 0.8 %

Shares of AXNX stock opened at $70.98 on Tuesday. The company has a market cap of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82. The firm has a fifty day moving average price of $70.61 and a 200 day moving average price of $69.13. Axonics has a 12 month low of $55.09 and a 12 month high of $71.05.

Insider Transactions at Axonics

In other news, CFO Kari Leigh Keese sold 2,961 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $69.41, for a total value of $205,523.01. Following the completion of the sale, the chief financial officer now directly owns 40,362 shares of the company’s stock, valued at approximately $2,801,526.42. This represents a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.85% of the company’s stock.

Institutional Trading of Axonics

A number of hedge funds have recently added to or reduced their stakes in AXNX. Cowen AND Company LLC purchased a new stake in shares of Axonics during the second quarter worth approximately $605,000. Bank of New York Mellon Corp raised its position in Axonics by 12.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 218,171 shares of the company’s stock worth $14,668,000 after buying an additional 23,460 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Axonics by 13.7% in the 2nd quarter. Rhumbline Advisers now owns 78,401 shares of the company’s stock worth $5,271,000 after acquiring an additional 9,446 shares during the period. Wolverine Asset Management LLC boosted its holdings in shares of Axonics by 22.0% in the second quarter. Wolverine Asset Management LLC now owns 42,191 shares of the company’s stock valued at $2,836,000 after acquiring an additional 7,610 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Axonics during the second quarter worth about $2,163,000. 99.48% of the stock is owned by institutional investors and hedge funds.

About Axonics

Axonics, Inc, a medical technology company, engages in the development and commercialization of novel products for the treatment of bladder and bowel dysfunction. Its sacral neuromodulation (SNM) systems are used to treat patients with overactive bladder (OAB), including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence (FI) and non-obstructive urinary retention (UR); and rechargeable (R20) and recharge-free (F15) implantable SNM systems that delivers mild electrical pulses to the targeted sacral nerve to restore normal communication to and from the brain to reduce the symptoms of OAB, UR, and FI.