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I’ve been following SENS since it’s run up in January and the reason why I am particularly bullish on this and betting on at least double digits by the end of year is this:
Comparatively speaking each of its main competitors have Continuous Glucose Monitoring (CGM) sensors that last one to two weeks.
Dexcom g6 Sensor Life - 10 Days Abbott Freestyle Libre 2 Sensor Life - 14 Days Medtronic Guardian Sensor 3 - 7 days
DXCM Current Share Price: $448.58 ABT Current Share Price: $119.81 MDT Current Share Price: $130.22
SENS Current Share Price: $2.97
(All prices were recorded at closing July 27, 2021)
Senseonics (SENS) Eversense Sensor is FDA approved for 90 days, working on approval for a 180 day model for the US and currently is approved in Europe, and eventually working on a 365 day model. The downside to Eversense is that the sensor is invasive being that it has to be surgically implanted.
The FDA approval for their 180 day model is expected this year or early next year. Their FDA application was submitted last year in October, 2019. Due to Covid the review process was delayed. I would anticipate an October approval timeline based on one year of time elapsing from the original application.
I think with FDA approval it could launch SENS to over $10 a share or at least give it a modest 100% to 200% gain from its current price. I believe their earnings on August 9th will be slightly better than expected and give it a little key bump.
I think once people start to realize this company and it’s technology have the ability to compete in the market space as well as change lives, it should be valued much higher than where it’s at. I think there is also a potential for a short squeeze here given the 27% short interest and 90M+ shares being shorted (not as likely or not really much of my thesis here) and AMC squeezed with absolute no regard for fundamentals or technicals and there are a lot of the same hedge fund players and retail investors involved here as well.
Regardless I think it’s still a great long term play. I think SENS if granted FDA approval for a 365 day sensor could put the stock price near triple digits in 5 years to 10 years.
I know SENS has some hurdles to get through, but it’s on the right track. I’m not a financial advisor. Just submitting a case for a stock I feel is undervalued.