In a report released today, Vernon Bernardino from H.C. Wainwright reiterated a Buy rating on Senseonics Holdings (SENS – Research Report), with a price target of $2.00.
Vernon Bernardino has given his Buy rating due to a combination of factors that highlight Senseonics Holdings’ strong market position and growth potential. The launch of the Eversense 365, the only FDA-approved 365-day continuous glucose monitoring system, has significantly bolstered the company’s market presence. Collaborations with Ascensia Diabetes Care and the Mercy health system have led to a substantial increase in the patient base, with a 56% rise in 2024 compared to 2023.
Furthermore, the company has seen record new patient shipments and a notable increase in patients switching from competitor products. The growing interest from national health systems and the doubling of direct-to-consumer leads indicate strong market momentum. With the continuous expansion of the CGM market and the potential introduction of the Gemini sensor, Senseonics is well-positioned for long-term growth. Bernardino’s valuation considers these growth prospects, despite potential risks such as regulatory challenges and reliance on commercial partners.