Axonics Modulation Technologies (AXNX) Received its Third Buy in a Row


After Needham and Morgan Stanley gave Axonics Modulation Technologies (NASDAQ: AXNX) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Larry Biegelsen maintained a Buy rating on Axonics Modulation Technologies yesterday. The company’s shares closed last Thursday at $37.51.

According to TipRanks.com, Biegelsen is a 5-star analyst with an average return of 12.1% and a 65.1% success rate. Biegelsen covers the Healthcare sector, focusing on stocks such as Inspire Medical Systems, Zimmer Biomet Holdings, and Merit Medical Systems.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Axonics Modulation Technologies with a $44.67 average price target.

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Based on Axonics Modulation Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $26.3 million and GAAP net loss of $14.62 million. In comparison, last year the company earned revenue of $1.08 million and had a GAAP net loss of $13.12 million.

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Axonics Modulation Technologies, Inc. operates as a medical technology company, which engages in the design, development, and commercialization of sacral neuromodulation solutions. The firm focuses on the treatment of patients with overactive bladder (OAB), fecal incontinence (FI), and urinary retention (UR). It offers rechargeable SNM system, which delivers mild electrical pulses to the targeted sacral nerve in order to restore normal communication to and from the brain to reduce the symptoms of OAB, FI, and UR. The company was founded by Guang Qiang Jiang, Danny L. Dearen, Timothy Deer, and Michael V. Williamson in March 2012 and is headquartered in Irvine, CA.

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