Senseonics Holdings Inc (NYSE:SENS) stock has reached a new 52-week low, touching down at $0.28, representing a stark 63% decline from its 52-week high of $0.75. According to InvestingPro analysis, the company's current market capitalization stands at $166 million, with multiple indicators suggesting the stock is currently undervalued. This significant drop reflects a challenging period for the company, with the stock experiencing a steep decline of -56.11% over the past year. Investors are closely monitoring Senseonics' performance as it navigates through market headwinds, with analysts setting price targets ranging from $0.30 to $2.50. The company's financial health score of 1.91 on InvestingPro indicates fair conditions, though rapid cash burn and weak gross profit margins remain concerns. The latest price level marks a concerning milestone for both the company and its stakeholders, with comprehensive analysis available through InvestingPro's detailed Research Report, which covers this and 1,400+ other US stocks.
In other recent news, Senseonics Holdings, Inc. reported its Q3 results, highlighting a decrease in net revenue but a positive outlook due to the FDA approval of its Eversense 365 product. The latest continuous glucose monitor (CGM) from Senseonics is anticipated to enhance patient starts and the installed base, with a significant revenue impact projected in the first quarter of 2025. Despite a net loss for the quarter, the company has bolstered its financial position through strategic financing and restructuring.
The FDA approval of Eversense 365, the first one-year CGM, marks a significant milestone for Senseonics. The company reported Q3 net revenue of $4.3 million, down from $6.1 million year-over-year, and anticipates a full-year 2024 global net revenue of $22 million. As part of their recent developments, Senseonics has also started a partnership with Mercy Health System for Eversense 365.
The company's restructuring efforts aim to reduce operating expenses by over $10 million in 2025. Senseonics projects a doubling of new patient starts and a 50% increase in the global installed base for the full year 2024. Full revenue impact from Eversense 365 is expected in Q1 2025, with gross margins anticipated to increase to nearly 30% in 2025.
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