Axonics Modulation Technologies (AXNX) Downgraded by Zacks Investment Research
According to Zacks, “Axonics Modulation Technologies Inc. is focused on development and commercialization of a novel implantable SNM system for patients with urinary and bowel dysfunction and disrupting the SNM market. Axonics Modulation Technologies Inc. is based in Irvine, CA. “
Separately, SunTrust Banks increased their target price on shares of Axonics Modulation Technologies to $26.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $23.38.
Axonics Modulation Technologies (NASDAQ:AXNX) last posted its earnings results on Tuesday, March 5th. The company reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.18). The business had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $0.24 million. On average, sell-side analysts predict that Axonics Modulation Technologies will post -2.03 EPS for the current fiscal year.
In other Axonics Modulation Technologies news, COO Rinda Sama sold 13,345 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.03, for a total transaction of $374,060.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. bought a new stake in Axonics Modulation Technologies during the fourth quarter valued at about $28,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in Axonics Modulation Technologies during the first quarter valued at about $30,000. Barclays PLC bought a new stake in Axonics Modulation Technologies during the fourth quarter valued at about $31,000. New York State Common Retirement Fund bought a new stake in Axonics Modulation Technologies during the first quarter valued at about $60,000. Finally, American International Group Inc. bought a new stake in Axonics Modulation Technologies during the fourth quarter valued at about $69,000. Institutional investors own 31.36% of the company’s stock.
About Axonics Modulation Technologies
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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