AXNX buy at 46.25 and Profit target at $57.81

Axonics Modulation Technologies AXNX is a medical device manufacture. They make a device that helps control overactive bladders. Their main competitor is MDT , which makes a very similar device. The main reason this caught my eye is because of the newness factor. This device will help improve the quality of life of the person whose body keeps telling you to pee yet there is only a drop.

From a technical standpoint there is a rectangle formation, which I used to call a consolidation base that is 26% deep and is showing price strength during this intermediate 10% market correction. There is a potential buy if next week it shoots past the buy point with at least 50% increase in weekly volume. The sales has only just started but is showing great stretch right after FDA approval. The big problem is that they won't be showing any earnings at least until 2021 if not 2022. What gives me confidence is that LAGWX and OPOCX funds are both investing in it meaning that institutional money has researched and approved of this stock even with no earnings. Fundamentals are below:

Sales (in millions
Sep-19: $1.3
Dec-19: $10.0 (FDA device approval on 11/13/2019)
Mar-20: $26.3
Jun-20: $15.2

Yearly Earnings per Share
2017: -.69
2018: -1.23
2019: -2.8
2020: -1.93
2021: -1.22