Vivani Medical’s Innovative Obesity Treatment Promises High Compliance and Market Growth: A Strong Buy Recommendation

Naz Rahman, an analyst from Maxim Group, reiterated the Buy rating on Vivani Medical (VANI – Research Report). The associated price target is $8.00.

Naz Rahman has given his Buy rating due to a combination of factors including Vivani Medical’s innovative drug delivery platform and its potential to significantly improve patient compliance in the treatment of obesity. Rahman highlights the company’s development of NPM-115, a novel 6-month GLP-1 implant designed to treat obesity, which could offer a compliance and tolerability advantage over existing weekly injectable therapies. The current compliance rates for weekly injectables hover around 40%, indicating a substantial opportunity for improvement with Vivani’s product. Additionally, Rahman sees the broader GLP-1 and obesity market as a blockbuster opportunity, especially given the high demand and reported shortages of current products.

Furthermore, Rahman’s optimism is bolstered by pre-clinical data showing that NPM-115 can induce weight loss comparable to that of leading GLP-1 agonists like semaglutide, a well-established weight management drug. The report suggests that Vivani Medical’s strategic focus on NPM-115, with an anticipated IND filing in the second half of 2024, positions the company for substantial growth in the obesity treatment market. Despite a setback with NPM-119 for Type 2 Diabetes, Vivani’s discussions with Australian regulatory authorities for potential cost savings and tax advantages demonstrate the company’s adaptability and commitment to advancing their pipeline. This strategic direction and the promise of their drug delivery platform underpin Rahman’s positive outlook on Vivani Medical’s stock.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VANI in relation to earlier this year.

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Vivani Medical (VANI) Company Description:

Second Sight Medical Products, Inc. engages in the development, manufacture, and marketing of implantable visual prosthetics. Its product, the Argus II Retinal Prosthesis System, treats outer retinal degenerations, such as retinitis pigmentosa, also referred to as RP. The company was founded by Alfred E. Mann, Aaron Mendelsohn, Sam Williams, Robert J. Greenberg, and Gunnar Bjorg in 1998 and is headquartered in Sylmar, CA.