In a report released today, Sean Lavin from BTIG maintained a Buy rating on Senseonics Holdings Inc (SENS), with a price target of $4. The company’s shares closed yesterday at $3.07.
Lavin noted:
“Raising PT to $4 While the SENS headline didn’t look good – missed Q4 prelim. rev due to timing of a distributor shipment in early Jan. and a cut to 2019 guidance by ~$2.5M – we believe the company’s new Patient Access Bridge program which causes the lowered guidance makes strategic sense. Here SENS will be covering the cost of Eversense for those patients with delays in insurance determinations. This will allow more patients to have procedures quickly and while it is possible the company may not be paid on every bill or appeal (reason for reduction in near-term outlook), by driving more patients into each insurance company sooner, it is likely SENS will gain routine coverage more quickly leading to much more substantial long-term revenue.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 10.3% and a 59.8% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Senseonics Holdings Inc with a $2.93 average price target.
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The company has a one-year high of $5.29 and a one-year low of $2.15. Currently, Senseonics Holdings Inc has an average volume of 1.67M.
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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.
