Axonics Modulation Technologies Inc. (NASDAQ:AXNX) does about 599.43K shares in volume on a normal day but saw 449190 shares change hands in Thursday trading. The company now has a market cap of 1.68B USD and an enterprise value of about $1.74B. Its current market price is $43.67, marking an increase of 1.51% compared to the previous close of $43.02. The 52 week high reached by this stock is $46.15 whilst the lowest price level in 52 weeks is $15.25. The script in recent trading has seen the stock touch a high of $44.00 and a low of $42.55.
Axonics Modulation Technologies Inc. (AXNX) has a 20-day trading average at $41.99 and the current price is -5.37% off the 52-week high compared with 186.36% distance from its 52-week low. The 50-day simple moving average of the closing price is $39.47 and its 200-day simple moving average is $31.86. If we look at the stock’s price movements over the week, volatility stands at 6.19%, which decreases to 5.21% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 56.66 to suggest the stock is neutral.
8 analysts observing the Axonics Modulation Technologies Inc. (AXNX) stock have set the 12-month price targets for the company’s shares at between $43.00 and $59.00. The consensus objective for the share price is $45.75, suggesting that the stock has a potential upside of 4.55% over the period. The median price target is 13.52% away from the current levels at $50.50.
FactSet Research has provided data showing that 8 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 8 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 07, 2020 when Needham reiterated the stock to “Buy” and issued a price target of between $48 and $57. Piper Jaffray initiated its price target at $39.
The current price level is 4.49%, 10.94%, and 37.52% away from its SMA20, SMA50, and SMA200 respectively, with the AXNX price moving above the 50-day SMA on August 13. Axonics Modulation Technologies Inc. (AXNX) stock is up 0.85% over the week and 9.64% over the past month. Its price is 57.60% year-to-date and 30.98% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of -$0.54 above consensus estimates by $0.11. The company’s next earnings report is expected on 12/15/2020, with forecasts estimating quarterly EPS at -$0.52 and -$1.94 for whole year. AXNX’s earnings per share are forecast to grow by 30.70% this year and 38.70% over next year. Expected sales for next quarter are $28.86 million, which analysts say will come at $91.72 million for the current fiscal year and next year at $154.62 million. In addition, estimates put the company’s current quarterly revenue at an average of $22.51 million.
Its 12-month price target is $50.50. To reach the target analysts have set, the stock logically needs to grow 4.55 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $43.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $59.00.
Outstanding shares total 38.43M with insiders holding 9.90% of the shares and institutional holders owning 102.76% of the company’s common stock. The company has a return on investment of -39.60%. Price to book ratio is 5.78 and price to sales ratio is 43.03.
According to a U.S. Securities and Exchange Commission filing, Polar Capital Funds Plc – Healthc has reduced its position in Axonics Modulation Technologies Inc. (AXNX) to 1,035,363 shares, mirroring a recent drop by -5.11%. Polar Capital Funds Plc – Healthc dumped 55794.0 shares of Axonics Modulation Technologies Inc. common stock bringing its total worth to about $43.86 million at the end of recent close, SEC documents show. Polar Capital Funds Plc – Healthc isn’t the only investment manager who changed stakes and is followed by Baron Small Cap Fund, which added 50000.0 shares to end up with 950,000 shares worth $40.24 million. Fidelity Blue Chip Growth Fund raise their holdings by 13.87% in the company over the course of the most recent quarter. It now holds a 1.98% position in Axonics Modulation Technologies Inc. thanks to 0.77 million shares amounting to $32.73 million.