Axonics downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Kallum Titchmarsh downgraded Axonics (AXNX) to Equal Weight from Overweight with a price target of $71, up from $69, following the recent announcement of its agreement to be acquired by Boston Scientific (BSX). The firm believes the deal will close as planned with a low risk of FTC pushback, as it sees no clear competitive crossover and does not expect higher bidders.