Axonics price target raised to $73 from $71 at Needham

Needham analyst Mike Matson raised the firm’s price target on Axonics to $73 from $71 and keeps a Buy rating on the shares after its smaller than expected Q1 loss and Fy23 guidance raise. Axonics’s F15 SNM system launched in April of 2022 and its new R20 SNM system launched in March, combined with direct-to-consumer ad campaign, were the key drivers of its strong revenue growth, the analyst tells investors in a research note.