Zacks Investment Research downgraded shares of Vivus Inc. (NASDAQ:VVUS) from a strong-buy rating to a hold rating in a research report released on Thursday morning.
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.”
Separately, WallachBeth Capital set a $2.80 target price on shares of Vivus and gave the stock a buy rating in a report on Monday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $1.68.
Shares of Vivus (NASDAQ:VVUS) traded down 0.90% during midday trading on Thursday, reaching $1.10. 181,445 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $1.09 and its 200 day moving average price is $1.23. The company’s market cap is $114.60 million. Vivus has a 12-month low of $0.92 and a 12-month high of $2.09.
Vivus (NASDAQ:VVUS) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.20. The firm earned $13.77 million during the quarter, compared to the consensus estimate of $19 million. Vivus’s revenue was down 40.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) EPS. Equities analysts anticipate that Vivus will post ($0.36) earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Vivus by 1.0% in the first quarter. Geode Capital Management LLC now owns 685,494 shares of the biopharmaceutical company’s stock worth $959,000 after buying an additional 7,119 shares during the last quarter. Smith Asset Management Group LP raised its stake in shares of Vivus by 69.2% in the second quarter. Smith Asset Management Group LP now owns 120,820 shares of the biopharmaceutical company’s stock worth $135,000 after buying an additional 49,400 shares during the last quarter. Bridgeway Capital Management Inc. raised its stake in shares of 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 during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Vivus during the second quarter worth $101,000. Finally, Bank of Montreal Can bought a new stake in shares of Vivus during the second quarter worth $123,000. Institutional investors own 37.03% 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).