Vivani Medical (NASDAQ:VANI) Stock Moved Down to Sell by Wall Street Zen

Wall Street Zen downgraded shares of Vivani Medical (NASDAQ:VANI) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vivani Medical in a research 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 assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.75.

Vivani Medical Trading Up 2.9%

VANI stock opened at $1.07 on Friday. The business’s 50-day moving average price is $1.21 and its two-hundred day moving average price is $1.25. The firm has a market cap of $96.51 million, a PE ratio of -3.06 and a beta of 2.51. Vivani Medical has a 1-year low of $0.92 and a 1-year high of $1.66.

Vivani Medical (NASDAQ:VANI) last posted its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. On average, analysts forecast that Vivani Medical will post -0.30 earnings per share for the current 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.