Axonics price target raised to $76 from $73 at Needham

Needham analyst Mike Matson raised the firm’s price target on Axonics to $76 from $73 and keeps a Buy rating on the shares. The company’s reported a Q2 adjusted EBITDA beat and its new R20 SNM system launched in March 2023, combined with direct-to-consumer ad campaign, remained the key drivers of its strong revenue growth, the analyst tells investors in a research note.