BTIG Reiterates Neutral Rating on Senseonics Holdings (SENS)

BTIG analyst Marie Thibault reiterated a Neutral rating on Senseonics Holdings (NYSE: SENS).

The analyst comments "This morning, Senseonics announced that they received FDA clearance for the 365-day Eversense continuous glucose monitoring (CGM) system. The 365-day system is indicated for adults with Type 1 and Type 2 diabetes and has an iCGM designation similar to its predicate, the 180-day Eversense CGM. The iCGM designation allows for Eversense systems to be part of an automated insulin delivery (AID) system. SENS continues to engage in active discussions with pump manufacturers for a potential interoperable AID system with Eversense in the future. SENS plans to initiate the launch of the 365-day system with commercial partner Ascensia Diabetes Care (ADC, subsidiary of PHC Holdings, TY: 6523, Not Rated) starting in Q4, in line with prior commentary. The company has already been preparing for the commercial launch via consumer and professional marketing initiatives to build awareness, and is working to transition coverage availability as well. SENS also expects inventory transition dynamics to impact Q3 sales. We expect SENS shares to be up today on this catalyst. We do not make any changes to our model. Reiterate Neutral."

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 $0.39 yesterday.

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