Morgan Stanley analyst David Lewis maintained a Buy rating on Axonics Modulation Technologies (AXNX) today and set a price target of $36.00. The company’s shares closed last Monday at $22.83.
According to TipRanks.com, Lewis is a 4-star analyst with an average return of 3.0% and a 53.9% success rate. Lewis covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Baxter International, and Intuitive Surgical.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Axonics Modulation Technologies with a $45.00 average price target.
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Based on Axonics Modulation Technologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $9.95 million and GAAP net loss of $22.75 million. In comparison, last year the company earned revenue of $494K and had a GAAP net loss of $9.67 million.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AXNX in relation to earlier this year.
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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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