H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Vivani Medical (VANI – Research Report) today and set a price target of $4.00.
Yi Chen has given his Buy rating due to a combination of factors including promising preclinical data and the potential of Vivani Medical’s semaglutide implant, NPM-139, for chronic weight management. The preclinical studies have shown that NPM-139 can achieve nearly 20% placebo-adjusted weight loss in healthy rats with a single administration, maintaining steady semaglutide exposure over a 91-day period. Additionally, the implant has demonstrated the possibility of once-yearly dosing, which could significantly enhance patient adherence and convenience.
Furthermore, the ongoing Phase 1 trial of another implant, NPM-115, has completed enrollment and is expected to provide topline data by mid-2025. This implant is designed for twice-yearly administration and aims to improve medication adherence compared to more frequent dosing options. The potential of NPM-115 to offer comparable efficacy and safety to existing treatments like Wegovy, combined with the growing demand for GLP-1 drugs for obesity, supports the positive outlook for Vivani Medical. These developments underpin Yi Chen’s confidence in the company’s innovative NanoPortal technology platform and justify the Buy rating with a $4 price target.
In another report released on March 13, Maxim Group also reiterated a Buy rating on the stock with a $8.00 price target.