SNES: Initiating coverage of SenesTech with a price target of $1.35

By Ian Gilson, PhD, CFA

NASDAQ:SNES

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SenesTech Inc. (NASDAQ:SNES) is in the transition from being a drug discovery company to commercialization of its rodenticide contraceptive, ContraPest. The replacement of second generation anti-coagulant products with alternative treatments would open a multimillion dollar market in the reduction in rat populations alone. Possible penetration into mouse control would be a significant increase in the total available market for SNES.

Zacks Small-Cap Research is initiating coverage of SenesTech with a price target of $1.35 a share.

SenesTech produces a contraceptive system, ContraPest, that is effective on both black and brown rats. By rendering both male and female rats unable to produce young, reproduction ends, and the rats live out a normal life span without giving birth.

The product is approved for use by the EPA and has received registration in all 50 states.

The company has deployments in Washington D.C.; St Louis; San Francisco Bay Area; Southern California transit agency as well as poultry farms, a winery and an egg facility. Other deployments include animal sanctuaries and 11 zoos.

Potential extensions to other pests could double the total available market.

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