In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Vivani Medical (VANI – Research Report), with a price target of $4.00.
Yi Chen has given his Buy rating due to a combination of factors including Vivani Medical’s promising developments in their obesity treatment programs. The company has successfully completed enrollment for the Phase 1 LIBERATE-1 trial of their exenatide implant, NPM-115, which is on track to report results by mid-2025. This implant has shown comparable preclinical weight loss results to existing treatments like semaglutide, with the added benefit of potentially improving medication adherence through twice-yearly administration.
Additionally, Vivani’s NPM-139 implant has demonstrated significant placebo-adjusted weight loss in preclinical studies, suggesting the potential for once or twice-yearly dosing. These promising results underscore the potential of Vivani’s NanoPortal technology platform. Furthermore, the company’s strengthened cash position, bolstered by recent equity financing, provides a solid financial foundation to support ongoing and future clinical programs. These factors collectively support the Buy rating and the $4 price target.
According to TipRanks, Chen is an analyst with an average return of -18.1% and a 26.95% success rate. Chen covers the Healthcare sector, focusing on stocks such as Opko Health, Vivani Medical, and Harrow Health.
In another report released on April 1, Maxim Group also reiterated a Buy rating on the stock with a $4.00 price target.