Vivus Inc. (NASDAQ:VVUS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday.
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 research report on Monday, July 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $1.68.
Shares of Vivus (NASDAQ:VVUS) opened at 1.10 on Thursday. Vivus has a one year low of $0.92 and a one year high of $2.01. The stock’s market cap is $114.60 million. The company has a 50-day moving average of $1.09 and a 200 day moving average of $1.23.
Vivus (NASDAQ:VVUS) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. The business had revenue of $13.77 million for the quarter, compared to analysts’ expectations of $19 million. The business’s revenue was down 40.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) earnings per share. On average, equities analysts forecast that Vivus will post ($0.36) earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in Vivus during the second quarter worth $101,000. Bank of Montreal Can purchased a new position in Vivus during the second quarter worth $123,000. Smith Asset Management Group LP raised its position in 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 period. LMR Partners LLP purchased a new position in Vivus during the second quarter worth $154,000. Finally, Alpine Partners VI LLC purchased a new position in Vivus during the second quarter worth $158,000. Hedge funds and other 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).
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