Here’s Why SenesTech Inc (SNES) Shares Skyrocketed Today
So what to make of SenesTech Inc’s (NASDAQ:SNES) latest success? On Monday, the tiny-size technology company stunned Wall Street thanks to a national distribution agreement with Univar for ContraPest, the company’s patent protected technology for managing rodent pest populations through reducing fertility. In addition to distribution, Univar will be marketing and selling ContraPest throughout its network.
SenesTech shares are soaring nearly 70% today on the news.
SenesTech CEO Loretta P. Mayer commented, “Univar is an excellent sales and distribution partner for SenesTech, with their extensive breadth and depth of coverage, their direct connection with the pest control operators, and their commitment to sustainability. They will immediately provide us with nationwide sales coverage and nine dedicated sales representatives […] As they have assured us, as our distributor, Univar sees their role as an active partner in creating and building a market for ContraPest.”
Corporate presentation October 2017
Roth Capital Gerry Sweeney recently noted, “SNES is developing a better tactical effort to drive adoption by pull customers via marketing, product positioning, pricing etc… these efforts better mesh with PCO’s own go to market strategies enabling quicker and more in depth discussions.” Sweeney rates SenesTech shares a Buy with a price target of $14.00, which implies a huge upside potential of 413%. According to TipRanks.com, Sweeney has a yearly average return of 2.3%, a 54% success rate, and is ranked #1891 out of 4703 analysts.
SenesTech engages in the development proprietary technology for managing animal pest populations through fertility control. Its first fertility control product candidate is ContraPest, which will be marketed for use initially in controlling rat infestations. The company was founded by Loretta P. Mayer and Cheryl A. Dyer in July 2004 and is headquartered in Flagstaff, AZ.