SenesTech price target raised to $10 at H.C. Wainwright to reflect reverse split

H.C. Wainwright raised the firm’s price target on SenesTech (SNES) to $10 from $3.50 and keeps a Buy rating on the shares. The price target update reflects the completion of the 1-for-10 reverse split on July 23, the analyst tells investors in a research note. The company has continued its sequential revenue growth while improving gross profits as well as reducing overall operating costs, and if market conditions remain supportive, the company’s revenue and operating performance in 2024 could be stronger than current expectations, the firm says.