Axonics (NASDAQ:AXNX) Releases Earnings Results, Misses Expectations By $0.32 EPS

Axonics (NASDAQ:AXNX) released its earnings results 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. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. The business had revenue of $91.41 million for the quarter, compared to analysts’ expectations of $89.79 million. During the same period in the previous year, the company earned ($0.19) EPS. Axonics’s quarterly revenue was up 29.4% compared to the same quarter last year.

Axonics Stock Up 0.3 %

AXNX stock traded up $0.23 during mid-day trading on Wednesday, hitting $66.80. 323,505 shares of the company were exchanged, compared to its average volume of 1,224,237. The business has a fifty day simple moving average of $67.86 and a 200-day simple moving average of $63.05. Axonics has a 12-month low of $47.59 and a 12-month high of $69.68. The firm has a market capitalization of $3.41 billion, a P/E ratio of -512.58 and a beta of 0.56.

Wall Street Analyst Weigh In

AXNX has been the subject of a number of research reports. Wolfe Research lowered shares of Axonics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 9th. Piper Sandler reissued a “neutral” rating and set a $71.00 price target (down previously from $75.00) on shares of Axonics in a research report on Friday, January 12th. Wells Fargo & Company reissued an “equal weight” rating and set a $71.00 price target (up previously from $68.00) on shares of Axonics in a research report on Wednesday, January 10th. Truist Financial reissued 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. Finally, CL King reissued a “neutral” rating 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 given a buy rating to the stock. According to MarketBeat.com, Axonics presently has a consensus rating of “Hold” and an average 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.