Axonics (NASDAQ:AXNX) Issues Earnings Results, Misses Estimates By $0.32 EPS

Axonics (NASDAQ:AXNX) released its quarterly earnings results on Tuesday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32), Briefing.com reports. The firm had revenue of $91.41 million for the quarter, compared to analysts’ expectations of $89.79 million. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.19) EPS.

Axonics Price Performance

AXNX stock traded up $0.21 during trading on Wednesday, reaching $66.78. 340,050 shares of the stock traded hands, compared to its average volume of 1,224,599. The business’s 50 day moving average price is $67.86 and its 200-day moving average price is $63.05. Axonics has a 52-week low of $47.59 and a 52-week high of $69.68. The firm has a market capitalization of $3.41 billion, a PE ratio of -513.81 and a beta of 0.56.

Analyst Ratings Changes

Several brokerages have weighed in on AXNX. Royal Bank of Canada reiterated a “sector perform” rating and issued a $71.00 target price on shares of Axonics in a research note on Thursday, February 29th. SVB Leerink reissued a “market perform” rating and issued a $71.00 price target on shares of Axonics in a report on Friday, January 12th. Wells Fargo & Company reissued an “equal weight” rating and issued a $71.00 price target (up from $68.00) on shares of Axonics in a report on Wednesday, January 10th. Needham & Company LLC reissued a “hold” rating on shares of Axonics in a report on Wednesday, January 17th. Finally, Truist Financial reissued a “hold” rating and issued a $71.00 price target (down from $73.00) on shares of Axonics in a report on Friday, January 12th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.