VIVUS (NASDAQ:VVUS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage currently has a $5.50 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 5.77% from the company’s current price.
According to Zacks, “VIVUS is focused on maximizing the value of and monetizing its legacy products, Qsymia and Stendra. Meanwhile, challenges in the obesity market remain. Qsymia sales have been lackluster since launch. VIVUS is expanding reimbursement and promotional initiatives to boost Qsymia sales. Moreover, we are positive on VIVUS’ partnership agreements for Stendra as these provide the company a steady stream of cash flow from upfront and milestone payments. Meanwhile, VIVUS is focusing on building a cash flow positive portfolio of commercial products. The acquisition of Pancreaze has boosted sales significantly. Shares of the company have underperformed the industry in the past six months. Loss estimates are stable ahead of the Q4 earnings release. VIVUS has a mixed record of earnings surprises in the recent quarters.”
Separately, ValuEngine raised VIVUS from a “hold” rating to a “buy” rating in a report on Thursday, November 1st.
Shares of VVUS stock traded up $0.15 during trading hours on Friday, reaching $5.20. The company’s stock had a trading volume of 52,501 shares, compared to its average volume of 280,596. The company has a market cap of $53.68 million, a PE ratio of -1.79 and a beta of 2.09. VIVUS has a fifty-two week low of $2.15 and a fifty-two week high of $9.90.
Hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of VIVUS in the 4th quarter valued at $29,000. Worth Venture Partners LLC bought a new position in shares of VIVUS in the 3rd quarter valued at $132,000. Finally, Renaissance Technologies LLC lifted its stake in shares of VIVUS by 5.4% in the 2nd quarter. Renaissance Technologies LLC now owns 8,273,800 shares of the biopharmaceutical company’s stock valued at $5,833,000 after acquiring an additional 423,100 shares during the last quarter. 17.10% of the stock is currently owned by hedge funds and other institutional investors.
VIVUS Company Profile
VIVUS, Inc, a biopharmaceutical company, develops and commercializes novel therapeutic products to address unmet medical needs in human health in the United States and the European Union. The company offers Qsymia for the treatment of obesity as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial body mass index of 30 or greater, or obese patients, or 27 or greater, or overweight patients in the presence of at least one weight-related comorbidity, such as hypertension, type 2 diabetes mellitus or high cholesterol; and STENDRA, an oral phosphodiesterase type 5 inhibitor for the treatment of erectile dysfunction.
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