In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Vivani Medical, with a price target of $4.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Yi Chen has given his Buy rating due to a combination of factors including the promising results from Vivani Medical’s LIBERATE-1 trial of the exenatide implant NPM-115. The trial successfully met its primary objectives by demonstrating a positive safety and tolerability profile, as well as a favorable pharmacokinetic profile over a nine-week period. The absence of serious adverse events and gastrointestinal issues further supports the potential of this technology for extended drug delivery.
Additionally, the preclinical data for NPM-139, a semaglutide implant for chronic weight management, is highly encouraging. The implant has shown significant weight loss maintained over six months, with potential for annual dosing. This could improve the safety and tolerability profile compared to existing marketed semaglutide products, potentially reducing therapy discontinuation rates. The valuation of Vivani Medical is supported by a discounted cash flow analysis, with a 12-month price target of $4 per share, factoring in the potential market value of NPM-139.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VANI in relation to earlier this year.