Benchmark’s Mark Palmer initiated coverage of Semler Scientific (Smlr) With a purchase rating and a price target of $ 101 with reference to the company’s dramatic turn from medical diagnostics to Bitcoin
Accumulation as a key value driver.
Semler, who spent over 15 years, focused on detection of chronic illness, adopted Bitcoin as its primary state reserve asset last May.
The move did it only the second US noted company after Michael Saylor’s strategy (Mstr)to adopt Bitcoin as a Treasury Reserve.
Since then, the company has acquired approx. 4,636 BTC for $ 430 million with an average cost basis of $ 92,753 per Bitcoin, says the report.
Palmer noted that the stock gathered 178% in the six and a half months after his Bitcoin standard message and topped with $ 81.56 in December 2024. However, the analyst claimed that Semler is still dealing with a steep discount compared to Bitcoin Treasury mates.
That is the multiple of the net worth (Mnav) sits at 1.25 compared to 4.29 for Japan-based Metaplanet (3350) and 6.45 for France’s blockchain group (Altbg)noticed the analyst.
Benchmark believes this hole could close. The management recently appointed Joe Burnett to the director of the Bitcoin strategy and outlined BAL BAL BTC accumulation target: 10,000 BTC by exit 2025, 42,000 at the output of 2026 and 105,000 at the end of 2027.
The report notes that the solution of legal and legislative headwinds from Semler’s heritage of health, including a Ministry of Justice (Doj) Examination and Medicare refund uncertainties can help lift its valuation further.
Benchmark’s price target of $ 101 is based on a sum-of-part-value that assumes Bitcoin will hit $ 225,000 at the end of the year 2026.
Read more: Semler Scientific Trades with Premium for Bitcoin Holdings for the first time in three weeks
