In a report released today, Josh Jennings from TD Cowen reiterated a Buy rating on Senseonics Holdings, with a price target of $15.00.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight the potential for Senseonics Holdings to perform well in the future. The recent reverse stock split has been factored into a new price target of $15, which is based on a sales multiple applied to the company’s projected 2028 revenue. This adjustment also considers a discount rate to account for potential commercial execution risks.
Furthermore, Jennings is optimistic about the company’s preliminary Q3 results, which exceeded market expectations and demonstrated significant growth in new patient numbers. The guidance provided by the company suggests a promising increase in global net revenue and gross margins, indicating a strong financial outlook. These elements, combined with the innovative potential of Senseonics’ product pipeline, contribute to the Buy rating.
Jennings covers the Healthcare sector, focusing on stocks such as Medtronic, TransMedics Group, and Boston Scientific. According to TipRanks, Jennings has an average return of 0.6% and a 46.39% success rate on recommended stocks.