Semler Scientific (SMLR) Gets Buy Rating From Benchmark, $101 Target on Bitcoin Treasury Pivot

Benchmark’s Mark Palmer initiated protection of Semler Scientific (SMLR) with a purchase ranking and a $101 worth goal, citing the corporate’s dramatic pivot from medical diagnostics to bitcoin

accumulation as a key worth driver.

Semler, which spent over 15 years targeted on continual illness detection, adopted bitcoin as its major treasury reserve asset in May final 12 months.

The transfer made it solely the second U.S.-listed agency, after Michael Saylor’s Strategy (MSTR), to undertake bitcoin as a treasury reserve asset.

Since then, the corporate has acquired roughly 4,636 BTC for $430 million, with a median value foundation of $92,753 per bitcoin, the report stated.

Palmer famous that the inventory rallied 178% within the six and a half months following its Bitcoin Standard announcement, peaking at $81.56 in December 2024. However, the analyst argued that Semler nonetheless trades at a steep low cost in comparison with bitcoin treasury friends.

Its a number of of web asset worth (mNAV) sits at 1.25, in comparison with 4.29 for Japan-based Metaplanet (3350) and 6.45 for France’s Blockchain Group (ALTBG), the analyst famous.

Benchmark believes this hole may shut. Management lately appointed Joe Burnett as Director of Bitcoin Strategy and outlined daring BTC accumulation targets: 10,000 BTC by finish of 2025, 42,000 by finish of 2026, and 105,000 by finish of 2027.

The report notes that resolving authorized and regulatory headwinds from Semler’s legacy healthcare enterprise, together with a Department of Justice (DOJ) investigation and Medicare reimbursement uncertainties, may assist carry its valuation additional.

Benchmark’s $101 worth goal relies on a sum-of-the-parts valuation that assumes bitcoin will hit $225,000 by year-end 2026.

Read extra: Semler Scientific Trades at Premium to Bitcoin Holdings for First Time in Three Weeks