AXNX - Axonics: Medical Devices Play

Summary

• 100% technical buy signals.
• 7 new highs and up 5.40% in the last month.
• Analysts price targets from 70 to 95.

The Chart of the Day belongs to the medical devices company Axonics ( AXNX ). I found the stock by sorting Barchart's All-Time High list first by the most frequent number of new highs in the last month and having a Trend Spotter buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter first signaled a buy on 9/8 the stock gained 5.40%.

Axonics, Inc., a medical technology company, engages in the development and commercialization of sacral neuromodulation (SNM) systems. The company's SNM systems are used to treat patients with overactive bladder, including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence and non-obstructive urinary retention. Its proprietary rechargeable SNM System (r-SNM) delivers mild electrical pulses to the targeted sacral nerve to restore normal communication to and from the brain to reduce the symptoms of bladder and bowel dysfunction. The company also offers Bulkamid, a urethral bulking agent to treat female stress urinary incontinence. It sells its products through a direct salesforce and distributors in the United States, the United Kingdom, Germany, the Netherlands, Nordic countries, and internationally. The company was formerly known as Axonics Modulation Technologies, Inc. and changed its name to Axonics, Inc. in March 2021. Axonics, Inc. was incorporated in 2012 and is based in Irvine, California.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

• 100% technical buy signals but increasing
• 24.86+ Weighted Alpha
• 10.21% gain in the last year
• Trend Spotter buy signal
• Above its 20, 50 and 100-day moving averages
• 7 new highs and up 5.40% in the last month
• Relative Strength Index 64.10%
• Technical support level at 76.25
• Recently traded at 78.22 with 50-day moving average of 69.14

Fundamental factors:

• Market Cap $3.63 billion
• Revenue expected to increase 41.10% this year and another 25.30% next year
• Earnings estimated to increase 32.60% next year and continue to compound at an annual rate of 66.00% for the next 5 years

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