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

Axonics (NASDAQ:AXNX) posted its earnings results on Tuesday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.32), Briefing.com reports. The company 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 2.59% and a negative net margin of 4.12%. The company’s revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS.

Axonics Stock Up 0.5 %

AXNX opened at $66.87 on Thursday. Axonics has a one year low of $47.59 and a one year high of $69.68. The business has a 50 day simple moving average of $67.84 and a two-hundred day simple moving average of $63.07.

Analysts Set New Price Targets

Several analysts have issued reports on AXNX shares. CL King reiterated a “neutral” rating on shares of Axonics in a research note on Friday, January 12th. Piper Sandler reissued a “neutral” rating and set a $71.00 price objective (down previously from $75.00) on shares of Axonics in a report on Friday, January 12th. Wolfe Research lowered shares of Axonics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $71.00 target price on shares of Axonics in a research note on Thursday, February 29th. Finally, Truist Financial restated a “hold” rating and issued a $71.00 target price (down previously from $73.00) on shares of Axonics in a research report on Friday, January 12th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.