In a report released yesterday, Naz Rahman from Maxim Group reiterated a Buy rating on Vivani Medical (VANI – Research Report), with a price target of $8.00.
Naz Rahman has given his Buy rating due to a combination of factors surrounding Vivani Medical’s strategic development and market potential. Vivani’s focus on the development of NPM-115, a 6-month implant for treating obesity, is particularly noteworthy. This implant represents a significant improvement in patient compliance compared to current weekly injectable GLP-1 therapies, which have a compliance rate of only around 40%. The potential for a one-time 6-month implant offers a substantial advantage in terms of compliance and steady therapy delivery, which is expected to drive patient preference and market demand. Rahman also highlights the high demand and current shortages in the GLP-1 class market for obesity treatments, suggesting a substantial opportunity for Vivani’s 6-month implant.
Additionally, the report suggests that Vivani’s financial position, with a cash runway sufficient to fund operations into the second half of 2025, supports the company’s ongoing development efforts. Despite a shift in strategic focus away from NPM-119 and towards NPM-115, the groundwork laid for NPM-119 could benefit overall GLP-1 utilization optimization. The general market awareness and usage of GLP-1 agonists are relatively high, with a significant portion of adults having taken a GLP-1 for weight loss or the treatment of diabetes or cardiovascular issues. This broad market familiarity and acceptance of GLP-1 therapies further support the potential success of Vivani’s long-acting implant in addressing the needs of a substantial patient population.
VANI’s price has also changed dramatically for the past six months – from $0.956 to $1.830, which is a 91.42% increase.
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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.
