Needham upgrades Axonics to Buy on conservative guidance, attractive valuation

As previously reported, Needham upgraded Axonics to Buy from Hold with a $71 price target. The firm is becoming more encouraged by the company’s accelerated revenue growth and progress toward profitability in recent quarters, the analyst tells investors in a research note. Needham further contends that the 2023 revenue guidance by Axonics management is "conservative" and that the valuation on the stock has become "attractive".