Piper Sandler downgraded Axonics (AXNX) to Neutral from Overweight with a price target of $71, down from $75, after the company announced that Boston Scientific (BSX) will acquire it for $71 per share in cash. The analyst views Boston Scientific as a very logical strategic owner of this asset given the company’s focus in women’s health and neuromodulation. Piper thinks no higher bids will emerge and has confidence that shareholder and regulatory conditions will be adequately met.
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Read More on AXNX:
- Axonics downgraded to Equal Weight from Overweight at Wells Fargo
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- Axonics downgraded to Peer Perform from Outperform at Wolfe Research
- Axonics downgraded to Sector Perform from Outperform at RBC Capital
- M & A News: Boston Scientific (NYSE:BSX) to Acquire Axonics in $3.7B Deal