Leerink Partners Downgrades Axonics to Market Perform, Announces $71 Price Target
Portfolio Pulse from Benzinga Newsdesk
Leerink Partners analyst Mike Kratky has downgraded Axonics (NASDAQ:AXNX) from Outperform to Market Perform and set a price target of $71. This change in rating may influence the company's stock performance in the short term.
January 12, 2024 | 10:00 am
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NEGATIVE IMPACT
Axonics has been downgraded by Leerink Partners from Outperform to Market Perform with a price target of $71, which could affect investor sentiment and the stock's short-term performance.
Downgrades by analysts can lead to a negative perception among investors and may result in a decrease in stock price. The announcement of a specific price target provides a benchmark that could influence trading behavior. Given that the downgrade is from Outperform to Market Perform, it suggests a neutral outlook, which may temper the negative impact slightly.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100