SenesTech's (SNES) New Partnership to Broaden Evolve's Scope
SenesTech, Inc. SNES recently partnered with a global leader in irrigation solutions for sustainable agriculture. This marks the expansion of Evolve, SenesTech’s innovative soft bait fertility control solution, into the broader market of open-field agriculture.
The latest development is set to advance rodent pest control in challenging open-field environments, starting at a California dairy and almond growing operations. This expansion positions Evolve as the key performer in addressing global food security challenges.
Pest Control in Open-Field Agriculture
Open-field agriculture poses unique challenges to traditional rodent pest control methods, making SenesTech's Evolve soft bait a game-changer. Traditional approaches such as poisons are impractical and trapping proves expensive with limited efficacy. SenesTech highlights Evolve's unique advantages, including minimal risk, reasonable cost and proven efficacy, which are essential in addressing the widespread rodent problem in open field settings.
A Strategic Deal
The collaboration with a global leader in irrigation solutions for sustainable agriculture aligns with the company’s target to introduce Evolve to a broader audience. The selected initial deployment in California reflects the urgency for effective pest control in the wake of legislative restrictions on the usage of rodenticides.
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The broader agricultural market represents a significant opportunity for Evolve. Rodents are responsible for nearly 20% of global food supply destruction. By targeting the root cause — rapid rodent reproduction — rather than relying solely on poisons, SenesTech offers a sustainable and effective solution. With the evolving regulatory landscape in California restricting certain rodenticides, Evolve emerges as a timely alternative for environment-conscious agriculture.
Market Prospects
Going by an Exactitude Consultancy report, the global pest control market is projected to witness a 5.2% CAGR from 2023 to 2029, reaching more than $32.25 billion by 2029. Factors fueling this growth include stringent environmental regulations, government support for biological pesticides and climate-induced pest proliferation. Though challenges like chemical toxicity and health concerns persist, ongoing R&D efforts toward bio-based insecticides indicate lucrative growth opportunities.
Share Price
Over the past three months, shares of SNES have plunged 70.8% against the industry’s 7.2% growth.
Zacks Rank and Other Key Picks
SenesTech currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are DaVita Inc. DVA, HealthEquity, Inc. HQY and Integer Holdings Corporation ITGR.
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 17.3%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 36.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 38.2% compared with the industry’s 9.4% rise in the past year.
HealthEquity, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 27.5%. HQY’s earnings surpassed estimates in each of the trailing four quarters, with the average being 16.5%.
HealthEquity has gained 8.2% against the industry’s 6.3% decline over the past year.
Integer Holdings, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 11.9%.
Integer Holdings’ shares have rallied 44.9% compared with the industry’s 3.7% rise in the past year.
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DaVita Inc. (DVA) : Free Stock Analysis Report
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Senestech, Inc. (SNES) : Free Stock Analysis Report
