The Globe and Mail reports in its Friday, April 5, edition that Raymond James analyst Rahul Sarugaser gave London, Ont.-based Sernova, which is focused on the development of a cell-based functional cure for type 1 diabetes (T1D), a "market perform" recommendation. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sarugaser set a share target of $1.50. Analysts on average target the shares at $3.92. Mr. Sarugaser says in a note: "1.8 million adults in the U.S. live with T1D (a population that benefits little from the action of GLP-1s): the opportunity before Sernova is a big one. The combination of Sernova's implant technology and EVO's engineered cell production capability is powerful, and, if well-managed, could gain these companies access to a market where sub-1-per-cent penetration would yield massive returns. Aside from competition (Vertex has the most advanced horse in this race), a key near-term obstacle we identify for Sernova is the recent turbulence in its executive team, which drives our current MP3 rating." The Globe reported on Feb. 11, 2022, that Echelon analyst Stefan Quenneville commenced coverage on Sernova with a "speculative buy" rating. The shares could then be had for $1.61.