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

Axonics (NASDAQ:AXNX) posted 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 1.00% and a negative net margin of 1.66%. The business had revenue of $91.41 million for the quarter, compared to the consensus estimate of $89.79 million. During the same period in the previous year, the firm earned ($0.19) EPS. The company’s revenue was up 29.4% on a year-over-year basis.

Axonics Price Performance

Axonics stock traded up $0.23 during midday trading on Wednesday, reaching $66.80. 323,505 shares of the company traded hands, compared to its average volume of 1,224,237. 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 price-to-earnings ratio of -512.58 and a beta of 0.56. The business has a 50 day moving average of $67.86 and a two-hundred day moving average of $63.05.

Wall Street Analyst Weigh In

Several research firms recently commented on AXNX. Wolfe Research lowered shares of Axonics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 9th. CL King reiterated a “neutral” rating on shares of Axonics in a research note on Friday, January 12th. Needham & Company LLC reiterated a “hold” rating on shares of Axonics in a research note on Wednesday, January 17th. SVB Leerink reiterated a “market perform” rating and issued a $71.00 target price on shares of Axonics in a research note on Friday, January 12th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $71.00 target price (up previously from $68.00) on shares of Axonics in a research note on Wednesday, January 10th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.