Axonics Modulation Technologies (NASDAQ:AXNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

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. “

AXNX has been the subject of a number of other research reports. Bank of America began coverage on Axonics Modulation Technologies in a report on Monday, November 26th. They issued a “buy” rating and a $23.00 price target for the company. Morgan Stanley began coverage on Axonics Modulation Technologies in a report on Monday, November 26th. They issued an “overweight” rating and a $21.00 price target for the company. Wells Fargo & Co began coverage on Axonics Modulation Technologies in a report on Monday, November 26th. They issued an “outperform” rating and a $22.00 price target for the company. Finally, SunTrust Banks began coverage on Axonics Modulation Technologies in a report on Monday, November 26th. They issued a “buy” rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $21.98.

Shares of NASDAQ AXNX opened at $22.60 on Friday. Axonics Modulation Technologies has a 1-year low of $11.95 and a 1-year high of $24.41. The company has a quick ratio of 27.46, a current ratio of 28.09 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $629.21 million and a PE ratio of -4.87.

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC purchased a new position in Axonics Modulation Technologies in the fourth quarter valued at about $24,942,000. Dean Capital Investments Management LLC purchased a new position in Axonics Modulation Technologies in the fourth quarter valued at about $605,000. Geode Capital Management LLC purchased a new position in Axonics Modulation Technologies in the fourth quarter valued at about $1,135,000. American International Group Inc. purchased a new position in Axonics Modulation Technologies in the fourth quarter valued at about $69,000. Finally, Barclays PLC purchased a new position in Axonics Modulation Technologies in the fourth quarter valued at about $31,000. 31.97% of the stock is owned by hedge funds and other institutional investors.

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, fecal incontinence, and urinary retention. The company was formerly known as American Restorative Medicine, Inc and changed its name to Axonics Modulation Technologies, Inc in August 2013.

See Also: What are the risks of holding treasury bonds?

Get a free copy of the Zacks research report on Axonics Modulation Technologies (AXNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Axonics Modulation Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axonics Modulation Technologies and related companies with MarketBeat.com's FREE daily email newsletter.