Leerink Partners Starts Senseonics Holdings (SENS) at Outperform

Leerink Partners initiates coverage on Senseonics Holdings (NYSE: SENS) with a Outperform rating and a price target of $4.50.

Analyst Danielle Antalffy commented, "We’re initiating coverage of SENS shares with an OP rating and a $4.50 12-month price target. We believe SENS is on the verge of a dramatic sales inflection point with the expected upcoming European launch of its Eversense 90-day implantable CGM and – even more importantly – an expected 1Q18 U.S. launch into what we believe is a nearly $6B total addressable market in the U.S. alone. At still just under $1B today, the global CGM market is still very much in the early stages of adoption. We believe SENS' Eversense implantable CGM is a highly differentiated product offering which can appeal to a broad patient population. This to us positions the company for dramatic top-line growth over the next 5+ years, with a clear path to profitability by 2020E. Beyond solid execution in driving a sales inflection, SENS will benefit from a number of positive catalysts over the next 12-24 months, including: (1) CE Mark approval expected any day now; (2) U.S. pivotal trial data by year-end; and (3) anticipated U.S. approval possible in late 2017."

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 $2.97 yesterday.

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