Bank of America Raises Axonics Modulation Technologies (NASDAQ:AXNX) Price Target to $35.00

Axonics Modulation Technologies (NASDAQ:AXNX) had its price target lifted by equities research analysts at Bank of America from $30.00 to $35.00 in a note issued to investors on Thursday, Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 6.58% from the company’s previous close.

Several other research firms have also recently commented on AXNX. Zacks Investment Research cut shares of Axonics Modulation Technologies from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. SunTrust Banks raised their target price on shares of Axonics Modulation Technologies to $33.00 and gave the company a “buy” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Axonics Modulation Technologies currently has a consensus rating of “Buy” and an average price target of $25.78.

Axonics Modulation Technologies stock traded up $1.04 during trading hours on Thursday, hitting $32.84. 11 shares of the company traded hands, compared to its average volume of 182,381. The stock has a market cap of $897.16 million and a price-to-earnings ratio of -7.08. The company has a current ratio of 22.83, a quick ratio of 22.07 and a debt-to-equity ratio of 0.16. Axonics Modulation Technologies has a 1-year low of $11.95 and a 1-year high of $34.12.

Axonics Modulation Technologies (NASDAQ:AXNX) last released its earnings results on Wednesday, May 8th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.07). The business had revenue of $1.08 million for the quarter, compared to analysts’ expectations of $0.53 million. Research analysts expect that Axonics Modulation Technologies will post -2.03 earnings per share for the current fiscal year.

In other news, COO Rinda Sama sold 13,345 shares of Axonics Modulation Technologies stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.03, for a total value of $374,060.35. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Several institutional investors and hedge funds have recently made changes to their positions in AXNX. Citigroup Inc. acquired a new position in shares of Axonics Modulation Technologies in the 4th quarter worth approximately $28,000. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of Axonics Modulation Technologies in the first quarter worth approximately $30,000. Barclays PLC purchased a new position in shares of Axonics Modulation Technologies in the fourth quarter worth approximately $31,000. New York State Common Retirement Fund purchased a new position in shares of Axonics Modulation Technologies in the first quarter worth approximately $60,000. Finally, American International Group Inc. purchased a new position in shares of Axonics Modulation Technologies in the fourth quarter worth approximately $69,000. 29.44% of the stock is currently owned by institutional investors.

Axonics Modulation Technologies Company Profile

Axonics Modulation Technologies, Inc, a medical technology company, focuses on the design, development, and commercialization of sacral neuromodulation solutions (SNM) solutions. The SNM therapy is primarily used to treat patients with overactive bladder, including urinary urgency incontinence and urinary urgency frequency, fecal incontinence, and urinary retention.

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