Vivani Medical (NASDAQ:VANI) Stock Rating Lowered by Wall Street Zen

Vivani Medical (NASDAQ:VANI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vivani Medical in a research note on Friday, October 2nd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Vivani Medical presently has an average rating of “Hold” and an average price target of $3.75.

Vivani Medical Stock Performance

VANI opened at $1.07 on Friday. The firm’s 50-day simple moving average is $1.21 and its 200-day simple moving average is $1.25. Vivani Medical has a twelve month low of $0.92 and a twelve month high of $1.66. The firm has a market cap of $96.51 million, a price-to-earnings ratio of -3.06 and a beta of 2.51.

Vivani Medical (NASDAQ:VANI) last announced its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. As a group, sell-side analysts anticipate that Vivani Medical will post -0.30 EPS for the current fiscal year.

Vivani Medical Company Profile

Vivani Medical, Inc is a clinical-stage biopharmaceutical company developing miniature, subcutaneous drug implants designed to provide continuous delivery of medicines over extended periods. Its proprietary NanoPortal technology is intended to address challenges associated with conventional dosing, including frequent injections, daily administration and inconsistent medication adherence.

The company’s development programs have focused primarily on therapies for metabolic diseases. Its NPM-115 program is designed to deliver exenatide for chronic weight management, while NPM-119 is intended to provide continuous exenatide delivery for the treatment of type 2 diabetes.