Mark Palmer of Benchmark initiated the coverage of Semler Scientific (SMLR) With a purchase rating and a price target of $ 101, citing the dramatic pivot of the Bitcoin medical diagnostic company
accumulation as a key value pilot.
Semler, which has spent more than 15 years focused on detecting chronic diseases, adopted Bitcoin as the principal of the Treasury Reserve in May of last year.
This decision made it only the second company listed in the United States, after Michael Saylor’s strategy (MSTR)To adopt Bitcoin as a Treasury reserve asset.
Since then, the company has acquired around 4,636 BTC for $ 430 million, with an average cost of $ 92,753 per Bitcoin, according to the report.
Palmer noted that the action gathered 178% in the six and a half months after its standard Bitcoin announcement, culminating at $ 81.56 in December 2024. However, the analyst argued that Semler is still negotiating a drop in the discount compared to the peers of the Bitcoin Treasury.
Its multiple net asset value (Mnav) is at 1.25, against 4.29 for Metaplanet based in Japan (3350) and 6.45 for the French blockchain group (Altbg)noted the analyst.
Benchmark thinks that this gap could fill. Management recently appointed Joe Burnett as Director of Bitcoin Strategy and described the daring BTC accumulation objectives: 10,000 BTC at the end of 2025, 42,000 at the end of 2026 and 105,000 at the end of 2027.
The report notes that the resolution of winds legal and regulatory contrary to the health activity inherited from semler, including a ministry of justice (Doj) The survey and reimbursement uncertainties of health insurance could help increase its evaluation.
Benchmark’s $ 101 price target is based on an assessment of the sum of the parts which assumes that Bitcoin will reach $ 225,000 by the end of 2026.
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