Zacks Investment Research Upgrades Vivus Inc. (VVUS) to Buy
Vivus Inc. (NASDAQ:VVUS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $1.25 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price target points to a potential upside of 14.68% from the stock’s previous close.
According to Zacks, “VIVUS’ key product, Qsymia, targets the highly lucrative obesity market which represents huge commercial potential. Qsymia is the first weight-loss drug to receive FDA approval in 13 years. Given the unmet medical need, upside potential in the obesity market remains high. VIVUS is working on boosting Qsymia sales through expanding reimbursement and promotional initiatives. We are also positive on VIVUS’ partnership agreements for Stendra as these provide the company with a steady stream of cash flow in the form of upfront and milestone payments. Apart from that, VIVUS stands to gain from the vast marketing experience of its partners like Sanofi. However, Qsymia’s performance remains lackluster and challenges in the obesity market may make it difficult to drive Qsymia sales. Patent challenges remain a concern as well. Estimates have been going up ahead of the company’s Q3 earnings release.”
Separately, WallachBeth Capital set a $2.80 price objective on shares of Vivus and gave the company a “buy” rating in a report on Monday, July 25th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $1.68.
Shares of Vivus (NASDAQ:VVUS) opened at 1.09 on Tuesday. The firm’s market cap is $113.56 million. The company’s 50-day moving average price is $1.11 and its 200 day moving average price is $1.16. Vivus has a 1-year low of $0.92 and a 1-year high of $1.85.
Vivus (NASDAQ:VVUS) last released its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.10. The business had revenue of $13.40 million for the quarter, compared to analyst estimates of $21.91 million. Vivus’s quarterly revenue was down 46.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) earnings per share. On average, analysts predict that Vivus will post ($0.28) EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. LMR Partners LLP acquired a new position in Vivus during the second quarter valued at $154,000. Alpine Partners VI LLC acquired a new position in Vivus during the second quarter valued at $158,000. Smith Asset Management Group LP raised its position in Vivus by 2.0% in the third quarter. Smith Asset Management Group LP now owns 123,280 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 2,460 shares during the period. Paloma Partners Management Co purchased a new stake in Vivus during the second quarter worth approximately $435,000. Finally, Bridgeway Capital Management Inc. raised its stake in Vivus by 10.4% in the second quarter. Bridgeway Capital Management Inc. now owns 602,900 shares of the biopharmaceutical company’s stock worth $675,000 after buying an additional 56,800 shares in the last quarter. Institutional investors own 36.80% of the company’s stock.
Vivus Company Profile
VIVUS, Inc is a biopharmaceutical company. The Company operates in the development and commercialization of therapeutic products segment. It provides over two therapies approved by the Food and Drug Association (FDA), which include Qsymia (phentermine and topiramate extended-release) for chronic weight management and STENDRA (avanafil) for erectile dysfunction (ED).
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