Axonics price target lowered to $75 from $85 at RBC Capital

RBC Capital lowered the firm’s price target on Axonics to $75 from $85 and keeps an Outperform rating on the shares as part of a broader research note previewing Q2 results for Medical Devices. The analyst is bullish on the set-up for the group, noting that companies should benefit from higher healthcare utilization as staffing is increasingly less of a limiting factor. The firm adds however that in the case of Axonics, investor sentiment is negative heading into earnings given the concerns around Sacral Neuromodulation, or SNM, market growth and the potential impact from competition.