Zacks Investment Research upgraded shares of Vivus Inc. (NASDAQ:VVUS) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $1.25 target price on the biopharmaceutical company’s stock.
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 target price on shares of Vivus and gave the stock a buy rating in a research report on Monday, July 25th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Vivus currently has a consensus rating of Hold and a consensus price target of $1.68.
Shares of Vivus (NASDAQ:VVUS) opened at 1.05 on Tuesday. Vivus has a 12 month low of $0.92 and a 12 month high of $1.85. The firm’s market capitalization is $109.39 million. The firm’s 50-day moving average is $1.10 and its 200 day moving average is $1.15.
Vivus (NASDAQ:VVUS) last posted its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.10. The business had revenue of $13.40 million for the quarter, compared to the consensus estimate of $21.91 million. The company’s revenue was down 46.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) earnings per share. On average, equities research analysts anticipate that Vivus will post ($0.12) EPS for the current year.
Large investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new stake in shares of Vivus during the second quarter worth about $123,000. Smith Asset Management Group LP increased 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. LMR Partners LLP purchased a new stake in shares of Vivus during the second quarter worth about $154,000. JPMorgan Chase & Co. purchased a new stake in shares of Vivus during the second quarter worth about $101,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Vivus during the second quarter worth about $240,000. 36.27% of the stock is owned by institutional investors and hedge funds.
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).