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Investing.com - Cantor Fitzgerald initiated coverage on Semler Scientific (NASDAQ:SMLR) with an Overweight rating and a $61.00 price target on Monday. The company, currently trading at $38.42 with a market capitalization of $886 million, shows impressive gross profit margins of 91%, according to InvestingPro data.
The research firm highlighted Semler Scientific’s Bitcoin treasury strategy, noting it was the second company in the United States to pursue such an approach. Unlike MicroStrategy, Semler initially used excess cash on its balance sheet to acquire Bitcoin before more recently raising capital specifically for Bitcoin purchases. InvestingPro analysis indicates the company’s short-term obligations exceed liquid assets, with a current ratio of 0.52.
Semler Scientific currently holds 4,636 Bitcoin and has intensified its focus on the cryptocurrency by hiring Joe Burnett as Chief Bitcoin Officer and adding Natalie Brunell, described as a top-rated Bitcoin podcast host, to its Board of Directors.
The company has set a target of accumulating 105,000 Bitcoin by the end of 2027, according to Cantor Fitzgerald’s research note.
Cantor Fitzgerald considers the risk/reward profile attractive, describing Semler as "one of the least expensive Bitcoin treasury names" in its coverage universe.
In other recent news, Semler Scientific anticipates an unrealized gain of approximately $83.8 million from the change in the fair value of its Bitcoin holdings for the quarter ending June 30, 2025. The company adjusted its Bitcoin valuation, using a price of about $107,176 per Bitcoin, according to a press release and SEC filing. These financial results are preliminary and unaudited, with closing procedures still ongoing. Benchmark has reiterated its Buy rating on Semler Scientific, setting a price target of $101.00, based on a sum-of-parts analysis that includes the projected market value of Semler’s Bitcoin holdings. The firm also initiated coverage on Semler Scientific, highlighting the company’s strategic pivot to adopt Bitcoin as its primary treasury reserve asset. Additionally, Semler Scientific announced the formation of CardioVanta, Inc., a wholly-owned subsidiary focusing on early detection of heart failure and cardiac arrhythmia monitoring. CardioVanta will operate as a software-as-a-service business model and seek outside investment to fund its initial capital needs. Semler Scientific continues to market its QuantaFlo device for peripheral artery disease detection.
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