Naz Rahman, an analyst from Maxim Group, reiterated the Buy rating on Vivani Medical. The associated price target remains the same with $4.00.
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Naz Rahman has given his Buy rating due to a combination of factors surrounding Vivani Medical’s promising developments in their drug delivery technology and strategic focus. The company has shown positive results from its Phase 1 study of NPM-115, demonstrating the effectiveness and safety of their NanoPortal technology, which ensures consistent drug release without adverse gastrointestinal effects. This technology’s success with NPM-115 supports the potential for expedited development of NPM-139, a semaglutide-based implant, which is set to become Vivani’s lead asset.
Naz Rahman also highlights the strategic prioritization of NPM-139, leveraging the well-known efficacy and safety profile of semaglutide, as seen in popular treatments like Ozempic and Wegovy. This prioritization is expected to facilitate a more efficient regulatory pathway and capitalize on the significant market opportunity for a long-term weight loss solution. The potential for a 3-6 month semaglutide implant addresses a critical need for patient compliance, making Vivani’s approach particularly compelling. These factors collectively underpin the Buy rating, reflecting confidence in Vivani’s strategic direction and market potential.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $4.00 price target.
VANI’s price has also changed moderately for the past six months – from $1.170 to $1.500, which is a 28.21% increase.