Senseonics Holdings (SENS) PT Under Review at Stifel After Positive Company Update

Stifel analyst Mathew Blackman reiterated a Buy rating and $1.00 price target on Senseonics Holdings (NYSE: SENS) after the company provided an end-of-year update highlighting key regulatory, commercial, and financial developments. The SENS commercial story seems to be off to a solid start, with 4Q outperformance, a strong 2021 outlook, and ramping of global investment which should yield results in early 2021.

The analyst stated "On regulatory matters, we learned that the 180-day product is facing COVID review headwinds, with FDA suggesting a delay of “…at least 60 days,” though there does appear to be some potential timeline flex. The 180-day (and the future 365-day) products are critical elements of the re-acceleration story and while a delay of any magnitude is disappointing, the re-affirmed 2021 outlook is reassuring and ultimate approval seems a matter of when, not if. All in, we are encouraged by the largely positive update and continue to believe SENS has a differentiated place in the CGM market."

For an analyst ratings summary and ratings history on Senseonics Holdings click here. For more ratings news on Senseonics Holdings click here.

Shares of Senseonics Holdings closed at $0.78 yesterday.

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