BTIG Keeps a Buy Rating on Senseonics Holdings Inc

By Ryan Adsit

BTIG analyst Sean Lavin reiterated a Buy rating on Senseonics Holdings Inc (AMEX: SENS) on May 26 and set a price target of $4.50. The company’s shares closed last Friday at $1.66, close to its 52-week low of $1.26.

Lavin wrote:

“Significant Positive SENS this morning announced that they raised $41M (29M shares @ $1.41), which in our opinion has been a key focus for potential investors for some time. We see it as a positive that they were able to raise at the current share price without warrants and that Roche (RHHBY, Not Rated), one of their key distributors, decided to participate. We expect shares to trade up post this raise and into the FDA approval anticipated later this year.”

According to TipRanks.com, Lavin is a 5-star analyst with an average return of 10.7% and a 57.5% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Trivascular Technologies, and Obalon Therapeutics Inc.

Senseonics Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of $4.75.

Based on Senseonics Holdings Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $553K and GAAP net loss of $13.07 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $11.22 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 (CGM) system for people with diabetes. Its products include eversense sensor, eversense smart transmitter, eversence mobile application, and eversense data management system. The company was founded on June 26, 2014 and is headquartered in Germantown, MD.