Analysts Set Axonics, Inc. (NASDAQ:AXNX) Price Target at $71.00

Shares of Axonics, Inc. (NASDAQ:AXNX) have been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation. The average 12-month price objective among analysts that have covered the stock in the last year is $71.00.

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

Axonics Stock Performance

NASDAQ AXNX opened at $70.98 on Friday. The business has a fifty day moving average price of $70.00 and a 200 day moving average price of $68.67. The company has a market cap of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82. Axonics has a one year low of $55.09 and a one year high of $71.05.

Insider Transactions at Axonics

In related news, CFO Kari Leigh Keese sold 2,961 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $69.41, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On Axonics

Several hedge funds and other institutional investors have recently bought and sold shares of AXNX. Headlands Technologies LLC raised its holdings in shares of Axonics by 31.1% during the first quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock worth $77,000 after purchasing an additional 265 shares during the period. Murchinson Ltd. acquired a new position in Axonics during the 3rd quarter valued at about $209,000. Xponance Inc. lifted its position in Axonics by 7.5% in the second quarter. Xponance Inc. now owns 3,231 shares of the company’s stock worth $217,000 after purchasing an additional 225 shares during the period. Janney Montgomery Scott LLC bought a new position in Axonics during the first quarter valued at about $218,000. Finally, MML Investors Services LLC grew its stake in shares of Axonics by 14.8% in the 3rd quarter. MML Investors Services LLC now owns 4,107 shares of the company’s stock worth $286,000 after purchasing an additional 529 shares during the last quarter. 99.48% of the stock is currently owned by hedge funds and other institutional investors.

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.