BTIG analyst, Sean Lavin, reiterated his Buy rating on shares of Senseonics Holdings (NYSE: SENS) and raised his price target to $4 from $3 after the company missed Q4 revenue and cut guidance by $2.5M. However, the longer term opportunity justifies a higher multiple driving up the PT.

The analyst believes the company’s new Patient Access Bridge program which caused the reduced guidance makes strategic sense however. The analyst stated "Here SENS will be covering the cost of Eversense for those patients with delays in insurance determinations. This will allow more patients to have procedures quickly and while it is possible the company may not be paid on every bill or appeal (reason for reduction in near-term outlook), by driving more
patients into each insurance company sooner, it is likely SENS will gain routine coverage more quickly leading to much more substantial long-term revenue".

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 $3.07 yesterday.