Axonics (NASDAQ:AXNX) Issues Quarterly Earnings Results

Axonics (NASDAQ:AXNX) issued its quarterly earnings data on Tuesday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.32), Briefing.com reports. The company had revenue of $91.41 million during the quarter, compared to analyst estimates of $89.79 million. Axonics had a negative net margin of 4.12% and a negative return on equity of 2.59%. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.19) EPS.

Axonics Stock Up 0.2 %

Axonics stock traded up $0.13 during midday trading on Thursday, reaching $67.00. The company’s stock had a trading volume of 163,987 shares, compared to its average volume of 1,216,853. Axonics has a fifty-two week low of $47.59 and a fifty-two week high of $69.68. The business has a 50-day simple moving average of $67.84 and a 200-day simple moving average of $63.07.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AXNX shares. Truist Financial reissued a “hold” rating and set a $71.00 target price (down previously from $73.00) on shares of Axonics in a report on Friday, January 12th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $71.00 price objective (up from $68.00) on shares of Axonics in a research report on Wednesday, January 10th. Piper Sandler reiterated a “neutral” rating and issued a $71.00 price objective (down from $75.00) on shares of Axonics in a research report on Friday, January 12th. Needham & Company LLC reiterated a “hold” rating on shares of Axonics in a research report on Wednesday, January 17th. Finally, Wolfe Research lowered Axonics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Axonics currently has an average rating of “Hold” and an average target price of $70.73.

Axonics Company Profile

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.