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Fly News Breaks for June 22, 2018
SENS
Jun 22, 2018 | 07:59 EDT
Craig-Hallum analyst Alexander Nowak reiterated a Buy rating and $6.50 price target on Senseonics after the company's premarket application for Eversense CGM system was approved by the FDA. In a research note to investors, Nowak said that while it was clear the market was expecting approval, the company "cleared a major hurdle" and sees shares continuing to rise as the company pivots from an early-stage company with approval risk to a commercial-stage company with execution risk. Nowak also noted that on an investor call on the FDA approval, the company confirmed that the Eversense U.S. label is consistent with the PMA application.
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