Senseonics Holdings Inc to increase rise on disruptive diabetes monitoring answer

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  • NYSEAMERICAN: SENS was up 2.66% on Friday and ended the week on a high level.
  • Senseonics Holdings Inc is awaiting FDA approval for its promising diabetes monitoring tool.
  • The Maryland-based company’s stock will be tested once the enthusiasm for Reddit wears off.

Most of the world longs for a shot in the arm – the COVID-19 vaccines – but people with diabetes are used to stabbing themselves and would prefer to forget that habit. Eversense CGM – A product developed by Senseonics Holdings (NYSEAMERICAN: SENS) is a product that promises to get rid of needles in a futuristic way.

The daily removal of multiple blood samples can easily be seen as a nuisance – and financially lucrative as diabetes is a common disease. Eversense CGM places a sensor under the patient’s skin and updates the results via a smartphone application.

How close is the Senseonics product to the market? Investors have pushed stocks higher, including a 2.66% gain on Friday that seems tame compared to previous penny stock rises in the not-too-distant past. Yet, SENS is trading below the 52-week high from $ 5.56 at the beginning of the year.

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SENS share forecast

There is likely room for a larger upward run, heavily reliant on a Food and Drugs Administration (FDA) seal of approval. Once authorities give the solution the green light, stocks could jump.

On the other hand there is There is already a lot of enthusiasm in SENS shares. Equity was hyped on Reddit’s WallStreetBets forum and other online financial forums. The crowd tends to quickly switch to another hot choice.

Will FDA approval come fast enough to give Senseonics a boost and maybe generate even more hype? Or will a perceived delay in the green light for Eversense CGM cause a fall? For those who believe in the product, such a decline would be called “buy the dip” Opportunity.

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