Vivani Medical (NASDAQ:VANI) Stock Price Up 1.5% – Time to Buy?

Vivani Medical, Inc. (NASDAQ:VANI)’s share price rose 1.5% during trading on Wednesday. The company traded as high as $1.27 and last traded at $1.2490. Approximately 119,114 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 229,429 shares. The stock had previously closed at $1.23.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VANI shares. Lake Street Capital started coverage on shares of Vivani Medical in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $4.00 price objective on the stock. Wall Street Zen raised shares of Vivani Medical from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings raised shares of Vivani Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Vivani Medical presently has a consensus rating of “Hold” and a consensus target price of $3.75.

Vivani Medical Stock Up 1.2%

The firm has a market cap of $111.40 million, a PE ratio of -3.53 and a beta of 2.35. The stock has a 50 day moving average price of $1.33 and a two-hundred day moving average price of $1.26.

Vivani Medical (NASDAQ:VANI) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. As a group, equities analysts anticipate that Vivani Medical, Inc. will post -0.3 earnings per share for the current year.

Vivani Medical Company Profile

Vivani Medical, Inc (NASDAQ: VANI) is a biopharmaceutical company developing miniature, long-term implantable drug-delivery systems for chronic diseases. Its proprietary NanoPortal technology is designed to deliver medication continuously over extended periods, potentially reducing the need for frequent injections or daily dosing.

The company’s pipeline has focused primarily on treatments based on glucagon-like peptide-1 (GLP-1) therapies. Its lead candidates have included NPM-115, an implantable formulation of exenatide being developed for chronic weight management, and NPM-119, an exenatide-based implant intended to treat type 2 diabetes.