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

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

Axonics Price Performance

Shares of AXNX traded up $0.03 during midday trading on Thursday, reaching $66.90. 135,532 shares of the stock were exchanged, compared to its average volume of 1,216,408. Axonics has a 52 week low of $47.59 and a 52 week high of $69.68. The company’s 50 day moving average is $67.84 and its two-hundred day moving average is $63.07.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AXNX shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $71.00 target price on shares of Axonics in a research report on Thursday, February 29th. Needham & Company LLC restated a “hold” rating on shares of Axonics in a research note on Wednesday, January 17th. SVB Leerink reaffirmed a “market perform” rating and set a $71.00 price objective on shares of Axonics in a report on Friday, January 12th. Truist Financial reaffirmed a “hold” rating and set a $71.00 price objective (down from $73.00) on shares of Axonics in a report on Friday, January 12th. Finally, Wolfe Research lowered Axonics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.