Needham Sticks to Its Buy Rating for Axonics Modulation Technologies (AXNX)

In a report released today, Michael Matson from Needham reiterated a Buy rating on Axonics Modulation Technologies (AXNXResearch Report), with a price target of $48.00. The company’s shares closed last Monday at $23.23.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 6.8% and a 64.2% success rate. Matson covers the Healthcare sector, focusing on stocks such as Cardiovascular 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 $43.50 average price target.

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Based on Axonics Modulation Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $25.01 million. In comparison, last year the company had a GAAP net loss of $7.57 million.

Based on the recent corporate insider activity of 33 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).