Semler Scientific Gets Buy Rating From Benchmark, $101 Price Target on Bitcoin Treasury Pivot
2025-07-08 12:53:21
Main Idea
Benchmark initiated coverage of Semler Scientific with a buy rating and a $101 price target, citing the company's pivot to Bitcoin as a treasury reserve asset as a key value driver.
Key Points
1. Benchmark's Mark Palmer initiated coverage of Semler Scientific (SMLR) with a buy rating and a $101 price target.
2. Semler Scientific has pivoted from chronic disease detection to accumulating Bitcoin as a treasury reserve asset, acquiring roughly 4,636 BTC for $430 million.
3. The stock rallied 178% in the six and a half months following its Bitcoin Standard announcement, peaking at $81.56 in December 2024.
4. Benchmark believes Semler's market-to-net asset value (mNAV) gap compared to peers like Metaplanet and Blockchain Group could close.
5. Semler aims to accumulate 10,000 BTC by end of 2025, 42,000 by end of 2026, and 105,000 by end of 2026, with a projected Bitcoin price of $225,000 by year-end 2026.
Description
Benchmark's Mark Palmer initiated coverage of Semler Scientific (SMLR) with a buy rating and a $101 price target, citing the company’s dramatic pivot from medical diagnostics to bitcoin (BTC) accumulation as a key value driver. Semler, which spent over 15 years focused on chronic disease detection, adopted bitcoin as its primary treasury reserve asset in May last year. The move made it only the second U.S.-listed firm, after Michael Saylor's Strategy (MSTR), to adopt bitcoin as a treasury reserv...
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