Bank of America Raises Axonics Modulation Technologies (NASDAQ:AXNX) Price Target to $40.00

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Axonics Modulation Technologies (NASDAQ:AXNX) had its price objective hoisted by Bank of America from $35.00 to $40.00 in a report issued on Tuesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on AXNX. Zacks Investment Research raised Axonics Modulation Technologies from a strong sell rating to a hold rating in a research report on Wednesday, August 14th. Needham & Company LLC initiated coverage on Axonics Modulation Technologies in a research report on Tuesday, September 3rd. They set a buy rating and a $43.00 price objective for the company. Finally, Wells Fargo & Co raised their price objective on Axonics Modulation Technologies from $35.00 to $47.00 and gave the stock an outperform rating in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $33.65.

NASDAQ AXNX opened at $31.50 on Tuesday. Axonics Modulation Technologies has a 52 week low of $11.95 and a 52 week high of $43.37. The company has a quick ratio of 11.51, a current ratio of 12.21 and a debt-to-equity ratio of 0.18. The business’s fifty day simple moving average is $34.59 and its 200-day simple moving average is $30.02. The firm has a market cap of $874.00 million and a PE ratio of -6.79.

Axonics Modulation Technologies (NASDAQ:AXNX) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.17). The business had revenue of $1.49 million for the quarter, compared to analyst estimates of $1.04 million. Axonics Modulation Technologies had a negative return on equity of 59.67% and a negative net margin of 1,515.61%. Axonics Modulation Technologies’s revenue for the quarter was up 12300.0% on a year-over-year basis. Research analysts expect that Axonics Modulation Technologies will post -2.28 EPS for the current year.

In related news, CEO Raymond W. Cohen acquired 3,500 shares of the stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $30.41 per share, with a total value of $106,435.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael V. Williamson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was 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. Over the last three months, insiders have sold 11,695 shares of company stock valued at $458,663. Corporate insiders own 35.99% of the company’s stock.

Several institutional investors have recently made changes to their positions in AXNX. Valeo Financial Advisors LLC acquired a new position in shares of Axonics Modulation Technologies during the second quarter worth about $32,000. BNP Paribas Arbitrage SA purchased a new stake in Axonics Modulation Technologies during the second quarter worth approximately $35,000. Bank of Montreal Can lifted its stake in Axonics Modulation Technologies by 963.7% during the second quarter. Bank of Montreal Can now owns 1,436 shares of the company’s stock worth $58,000 after purchasing an additional 1,301 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in Axonics Modulation Technologies by 130.2% during the second quarter. AdvisorNet Financial Inc now owns 2,302 shares of the company’s stock worth $94,000 after purchasing an additional 1,302 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Axonics Modulation Technologies by 84.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,300 shares of the company’s stock worth $94,000 after purchasing an additional 1,050 shares during the last quarter. 33.75% of the stock is owned by institutional investors and hedge funds.

Axonics Modulation Technologies Company Profile

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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Analyst Recommendations for Axonics Modulation Technologies (NASDAQ:AXNX)

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