AXNX - Axonics stock falls 5.6% after Needham downgrades rating

• Axonics ( NASDAQ: AXNX ) is trading 5.6% lower after Needham downgraded rating to hold from buy.
• The analyst Mike Matson sees a less favorable risk/reward profile after Needham's urologist survey suggested the company may have difficulty driving upside to consensus 2023 revenue estimates.
• Matson says Axonics F15 product cycle is now largely reflected in the shares, and no additional major product cycles are expected in the next 12-18 months. He believes the stock now appears to be fairly valued.
• AXNX is up 7.5% in the last 12 months.

For further details see: