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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on AXNX:
- Axonics downgraded to Equal Weight from Overweight at Wells Fargo
- NeuroPace price target raised to $17 from $12 at Lake Street
- 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