Needham Issues a Buy Rating on Axonics Modulation Technologies (AXNX)

In a report released today, Michael Matson from Needham assigned a Buy rating to Axonics Modulation Technologies (AXNX), with a price target of $72.00. The company’s shares closed last Thursday at $56.00.

According to, Matson is a 5-star analyst with an average return of 16.8% and a 68.4% success rate. Matson covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Cardiovascular Systems, and Merit Medical Systems.

Currently, the analyst consensus on Axonics Modulation Technologies is a Strong Buy with an average price target of $67.50, representing a 21.7% upside. In a report issued on May 3, Piper Sandler also maintained a Buy rating on the stock with a $70.00 price target.

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Axonics Modulation Technologies’ market cap is currently $2.35B and has a P/E ratio of -37.80. The company has a Price to Book ratio of 8.21.

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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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