H.C. Wainwright analyst Vernon Bernardino has reiterated their bullish stance on SENS stock, giving a Buy rating yesterday.
Vernon Bernardino has given his Buy rating due to a combination of factors that highlight the potential growth and strong market presence of Senseonics Holdings. The approval and subsequent launch of the Eversense 365 continuous glucose monitor (CGM) system have been pivotal, resulting in a significant increase in the patient base by 56% in 2024 compared to the previous year. This momentum is expected to continue, with the company projecting a potential doubling of its global patient base in 2025.
Furthermore, the strategic partnership with Ascensia Diabetes Care and the involvement of the Mercy Health system are anticipated to drive further growth. The company’s financial health, marked by a better-than-expected net loss and a strong cash position, also supports this positive outlook. Additionally, the anticipated revenue growth aligns with company guidance, reinforcing confidence in the company’s trajectory. These factors collectively underpin Bernardino’s Buy rating and the $2 price target for Senseonics Holdings.
In another report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock with a $2.50 price target.