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

Axonics (NASDAQ:AXNX) released its quarterly earnings results on Tuesday. The company reported ($0.38) earnings per share 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%. Axonics’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) earnings per share.

Axonics Price Performance

Axonics stock opened at $66.87 on Thursday. Axonics has a 52-week low of $47.59 and a 52-week high of $69.68. The firm has a 50-day moving average price of $67.84 and a two-hundred day moving average price of $63.07.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AXNX. Truist Financial reissued a “hold” rating and issued a $71.00 price target (down previously from $73.00) on shares of Axonics in a report on Friday, January 12th. Needham & Company LLC reissued a “hold” rating on shares of Axonics in a research report on Wednesday, January 17th. Wolfe Research cut shares of Axonics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 9th. SVB Leerink restated a “market perform” rating and set a $71.00 price objective on shares of Axonics in a research note on Friday, January 12th. Finally, CL King reiterated a “neutral” rating on shares of Axonics in a research report on Friday, January 12th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Axonics currently has an average rating of “Hold” and an average price target 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.