Senseonics Holdings (SENS) stock is soaring 7.59% in intraday trading on Tuesday, as investors react positively to new analyst coverage. The surge comes after TD Cowen initiated coverage on the company with a Buy rating and a price target of $1.25.

The favorable rating from TD Cowen appears to be the primary catalyst for the stock's significant uptick. Analyst initiations, particularly those with positive outlooks, often lead to increased investor interest and can drive stock prices higher in the short term.

This new coverage aligns with the overall positive sentiment among analysts tracking Senseonics. According to data from FactSet, the average rating for SENS stock is overweight, with a mean price target of $1.55. This consensus suggests that analysts generally see potential upside for the stock, which may be contributing to today's rally.