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In a report released yesterday, Sean Lavin from BTIG maintained a Buy rating on Senseonics Holdings Inc (NYSE: SENS), with a price target of $6. The company’s shares closed yesterday at $4.15.
Lavin noted:
“Senseonics’ reported Q2 sales relatively in line with our estimates and Street expectations. That put the focus squarely on observations from the first days of US launch. Early feedback points to doctors quickly becoming comfortable with the procedure and patients enjoying a long-lasting sensor. Additionally, revenue guidance for 2018 was increased by $1M because of additional confidence in both Europe and the US. We see this as a positive following FDA approval. In our view, the only factor hindering US patient and clinician appetite for Eversense is the timing of payor coverage, which we see as an issue of when, not if. We continue to model 2018 sales slightly above the guidance range. Although SENS shares have been weak since the company’s recent financing, we think shares may trade flat to slightly up Thursday with mgmt raising expectations a bit.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 14.5% and a 62.3% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Helius Medical Technologies, Tactile Systems Technology, and Obalon Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Senseonics Holdings Inc with a $5.88 average price target.
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Based on Senseonics Holdings Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $22.27 million. In comparison, last year the company had a GAAP net loss of $12.37 million.
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Senseonics Holdings, Inc. is a medical technology company, which engages in the design, development, and commercialization of implantable continuous glucose monitoring system for people with diabetes. Its products include eversense sensor, eversense smart transmitter, eversence mobile application, and eversense data management system.
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