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

Axonics (NASDAQ:AXNX) issued its quarterly earnings data on Tuesday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32), Briefing.com reports. The firm had revenue of $91.41 million for the quarter, compared to analyst estimates of $89.79 million. Axonics had a negative net margin of 4.12% and a negative return on equity of 2.59%. The firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.19) EPS.

Axonics Stock Up 0.5 %

Axonics stock opened at $66.87 on Thursday. Axonics has a 1-year low of $47.59 and a 1-year high of $69.68. The company has a fifty day simple moving average of $67.84 and a 200 day simple moving average of $63.07.

Analyst Ratings Changes

Several brokerages have recently issued reports on AXNX. Needham & Company LLC reissued a “hold” rating on shares of Axonics in a report on Wednesday, January 17th. Truist Financial reaffirmed a “hold” rating and set a $71.00 price target (down previously from $73.00) on shares of Axonics in a research report on Friday, January 12th. CL King reiterated a “neutral” rating on shares of Axonics in a research report on Friday, January 12th. Royal Bank of Canada restated a “sector perform” rating and set a $71.00 target price on shares of Axonics in a report on Thursday, February 29th. Finally, Wolfe Research lowered shares of Axonics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Axonics presently has a consensus rating of “Hold” and a consensus target price of $70.73.

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.