FY2024 EPS Estimates for Axonics, Inc. (NASDAQ:AXNX) Lifted by Analyst

Axonics, Inc. (NASDAQ:AXNX) – Investment analysts at Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for shares of Axonics in a report released on Thursday, March 28th. Leerink Partnrs analyst M. Kratky now forecasts that the company will post earnings of $0.36 per share for the year, up from their prior forecast of $0.26. The consensus estimate for Axonics’ current full-year earnings is $0.30 per share. Leerink Partnrs also issued estimates for Axonics’ Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.18 EPS, Q4 2025 earnings at $0.30 EPS, FY2025 earnings at $0.67 EPS, FY2026 earnings at $1.17 EPS, FY2027 earnings at $1.79 EPS and FY2028 earnings at $2.53 EPS.

Axonics (NASDAQ:AXNX) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. Axonics had a negative net margin of 1.66% and a negative return on equity of 1.00%. The firm had revenue of $109.70 million during the quarter, compared to analyst estimates of $107.33 million. During the same quarter in the previous year, the business posted $0.01 EPS. Axonics’s revenue was up 27.7% on a year-over-year basis.

A number of other research firms have also recently issued reports on AXNX. Truist Financial reaffirmed 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. Wolfe Research downgraded Axonics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $71.00 price objective on shares of Axonics in a research note on Thursday, February 29th. CL King reiterated a “neutral” rating on shares of Axonics in a report on Friday, January 12th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $71.00 price target (up from $68.00) on shares of Axonics in a research report on Wednesday, January 10th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $70.73.

Axonics Stock Performance

Shares of AXNX stock opened at $68.97 on Friday. The stock’s 50-day simple moving average is $68.04 and its 200-day simple moving average is $61.28. Axonics has a fifty-two week low of $47.59 and a fifty-two week high of $69.68.

Insider Transactions at Axonics

In related news, CEO Raymond W. Cohen sold 35,161 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total value of $2,381,806.14. Following the completion of the transaction, the chief executive officer now owns 188,835 shares of the company’s stock, valued at approximately $12,791,682.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Axonics news, EVP John Woock sold 15,899 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total transaction of $1,076,998.26. Following the transaction, the executive vice president now directly owns 77,403 shares of the company’s stock, valued at $5,243,279.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Raymond W. Cohen sold 35,161 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $2,381,806.14. Following the sale, the chief executive officer now directly owns 188,835 shares of the company’s stock, valued at approximately $12,791,682.90. The disclosure for this sale can be found here. Insiders have sold a total of 81,836 shares of company stock valued at $5,563,729 in the last ninety days. 1.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axonics

Several institutional investors have recently bought and sold shares of the company. Invesco Ltd. increased its position in shares of Axonics by 5.8% during the third quarter. Invesco Ltd. now owns 1,634,984 shares of the company’s stock worth $91,755,000 after purchasing an additional 90,132 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Axonics during the third quarter worth $1,313,000. Hedges Asset Management LLC raised its position in shares of Axonics by 6.5% in the fourth quarter. Hedges Asset Management LLC now owns 8,600 shares of the company’s stock valued at $535,000 after buying an additional 525 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Axonics in the third quarter worth about $68,499,000. Finally, Jennison Associates LLC boosted its position in Axonics by 12.2% during the third quarter. Jennison Associates LLC now owns 225,957 shares of the company’s stock worth $12,681,000 after acquiring an additional 24,631 shares during the last quarter. 99.48% of the stock is currently owned by institutional investors and hedge funds.

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.