Amit Dayal, an analyst from H.C. Wainwright, maintained the Buy rating on SenesTech (SNES – Research Report). The associated price target is $3.50.
Amit Dayal’s Buy rating for SenesTech is predicated on a combination of recent strategic financial maneuvers and product development milestones that the company has achieved. These include the completion of a 1-for-12 reverse stock split, the successful closure of a $5 million public offering, and the launch of their new Evolve Soft Bait product. The influx of funds from the public offering is expected to bolster the company’s sales and marketing capabilities, facilitating wider distribution and adoption of the new product.
Moreover, the new Evolve Soft Bait is positioned as a competitive offering due to its ease of deployment and attractive pricing relative to alternative rodenticides, which may drive increased commercial adoption. In addition, Dayal maintains his revenue expectations for the coming years, with a positive outlook on potential growth from increased production capacity. The company’s financial performance showed a marked improvement in the third quarter of 2023, with significant growth in revenue and a reduction in the adjusted EBITDA loss from the previous year, which further underpins the recommendation to buy.
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SenesTech (SNES) Company Description:
SenesTech, Inc. engages in the development and commercialization of a proprietary technology for the management of animal pest populations, primarily rat populations through fertility control. Its first fertility control product candidate is ContraPest. The company was founded by Loretta P. Mayer and Cheryl A. Dyer in July 2004 and is headquartered in Flagstaff, AZ.
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