Mark Palmer from Benchmark began the coverage of Semler Scientific (SMLR) With a purchase rating and an objective price of $ 101, citing the dramatic pivot of the medical diagnostic company Bitcoin
Accumulation as a key value controller.
Semler, who spent more than 15 years, focused on the detection of chronic diseases, adopted Bitcoin as his main treasure reserve asset in May last year.
The measure made it only the second company that is quoted in the United States, after Michael Saylor’s strategy (Mstr)Adopt Bitcoin as a treasure reserve asset.
Since then, the company has acquired approximately 4,636 BTC for $ 430 million, with an average cost base of $ 92,753 per Bitcoin, according to the report.
Palmer pointed out that the shares were recovered from 178% in the six and a half months after their standard Bitcoin announcement, with a maximum of $ 81.56 in December 2024. However, the analyst argued that Semler still quotes with a pronounced discount compared to Bitcoin’s treasure partners.
Its multiple of net asset value (MNAV) He sits at 1.25, compared to 4.29 for Metaplanet based in Japan (3350) and 6.45 for the Blockchain group in France (ALTBG)The analyst said.
Benchmark believes that this gap could close. The Management recently appointed Joe Burnett as Bitcoin Strategy Director and described BTC accumulation objectives in bold: 10,000 BTC at the end of 2025, 42,000 at the end of 2026 and 105,000 by the end of 2027.
The report indicates that resolving winds in legal and regulatory front of the Heredo de Semler health business, including a justice department. (DOJ) Investigation and uncertainties of Medicare reimbursement could help further lift their assessment.
The target price of $ 101 of Benchmark is based on an sum valuation of the parties that supposes that Bitcoin will reach $ 225,000 for the end of the year 2026.
Read more: Semler Scientific Commerce in Premium a Bitcoin Holdings for the first time in three weeks
