Canaccord analyst Kyle Rose is out with a research note on shares of Senseonics (NYSE:SENS), after the medical technology company released its second-quarter results, which demonstrated “continued momentum in OUS markets, execution on key US commercial initiatives, and the completion of a successful capital raise that can support the ongoing commercialization of Eversense.”
Rose reiterates a Buy rating on Senseonics shares, with a price target of $5.00, which represents a potential upside of 25% from where the stock is currently trading.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Kyle Rose has a yearly average return of 13.4% and a 54% success rate. Rose has a 15.3% average return when recommending SENS, and is ranked #414 out of 4850 analysts.
The analyst noted, “While Q2 revenues came in slightly below expectations, management raised FY18 revenue guidance given increased confidence in the OUS business and better-than-expected readiness/demand in the US. That said, we’ve reviewed our H2/18 growth metrics and have scrubbed our forward growth assumptions, taking a slightly more conservative tone with respect to the first 18 months of US commercialization. This is not intended as a negative signal to investors – our LT view on the market opportunity and commercial differentiation are unchanged – rather, a sanity check to prevent our assumptions on patient additions/utilization from becoming too ambitious in the early days of US commercialization.”
Senseonics has one of the best ratings by the Street. TipRanks reveals that SENS has a Strong Buy analyst consensus rating with 6 back-to-back buy ratings in the last 12 months. Meanwhile, the average analyst price target of $5.90 suggests the stock still has upside potential of just over 47% from the current share price for the next 12 months.
Senseonics is a medical technology company focused on the development and commercialization of transformational glucose monitoring products designed to help people with diabetes confidently live their lives with ease.