Vivani Medical (NASDAQ:VANI – Get Free Report) released its earnings results on Wednesday. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01), Zacks reports.
Vivani Medical Trading Down 2.6%
Shares of NASDAQ VANI traded down $0.03 during trading hours on Wednesday, reaching $1.12. The stock had a trading volume of 135,203 shares, compared to its average volume of 318,191. Vivani Medical has a 52-week low of $0.92 and a 52-week high of $1.66. The firm has a market cap of $101.02 million, a price-to-earnings ratio of -3.20 and a beta of 2.51. The business’s fifty day moving average price is $1.20 and its two-hundred day moving average price is $1.25.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Wall Street Zen cut shares of Vivani Medical from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vivani Medical in a report on Friday, October 2nd. Two research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.75.
Read Our Latest Analysis on VANI
About Vivani Medical
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.
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