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Fly News Breaks for February 24, 2020
MDT, AXNX
Feb 24, 2020 | 05:00 EDT
After traveling with management, Piper Sandler analyst Adam Maeder continues to believe Axonics Modulation Technologies (AXNX) is well positioned to take meaningful share from Medtronic (MDT) in the sacral neuromodulation market. The market as "ripe for a growth acceleration" behind innovation, competition, and improving therapy awareness with "plenty of room" for both competitors to succeed, Maeder tells investors in a research note. He believes the opportunity for market expansion remains an "important, underappreciated" part of the Axonics story and that the company has the potential to become one of the fastest growth names in medical technology. The analyst reiterates an Overweight rating on the shares with a $44 price target.
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