Mizuho has commenced its coverage of Senseonics (SENS, Financial) with a positive "Outperform" rating and a price target set at $2. The investment firm believes that the company's flagship product, Eversense 365, is poised for significant growth in the continuous glucose monitoring sector. This optimistic forecast is supported by favorable survey data and feedback from physicians, indicating a strong potential for increased adoption in the coming years.
The analysis suggests that Eversense 365 could see a considerable increase in its U.S. market share, with expectations of more than a 100 basis point rise over the next few years. This anticipated growth is attributed to the product's potential to cater to the rising demand for reliable and efficient glucose monitoring solutions. As Senseonics continues to gain traction among healthcare professionals, Mizuho's projection underscores the company's promising future in the industry.
