Anthony Petrone, an analyst from Mizuho Securities, has initiated a new Buy rating on Senseonics Holdings (SENS).
Anthony Petrone has given his Buy rating due to a combination of factors including positive survey data and optimistic feedback from physicians regarding the adoption of Senseonics Holdings’ Eversense 365 system. The Eversense 365 is the only FDA-approved implantable continuous glucose monitor (iCGM) with a 12-month duration, which sets it apart from competitors that offer shorter usage periods. This unique feature, coupled with the expected expansion of the continuous glucose monitoring market, positions Senseonics for significant growth.
Furthermore, Petrone anticipates that the Eversense 365 will gain over 100 basis points in US market share in the coming years, supported by the recent label expansion. The development of next-generation products like the Gemini and Freedom systems, which promise enhanced functionality and ease of use, is also expected to drive further adoption. These factors contribute to a projected price target of $2, with potential upside to $4, reflecting the company’s promising outlook in the rapidly growing CGM market.