VIVUS (NASDAQ:VVUS) was downgraded by equities research analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, StockRatingsNetwork reports. They currently have a $11.00 price objective on the stock, down from their previous price objective of $17.00. Bank of America Corp.’s price objective points to a potential upside of 16.90% from the stock’s previous close.
The analysts wrote, “We are lowering our rating to Neutral (from Buy) and our PO to $11 (from $17). Paltry sales growth in 3Q and a company now in cost cutting mode add to the challenges of securing a strong partner near-term. We lowered our royalty rate estimate to 20% (from 25%) and our peak revenue estimate to $1.8bn in 2020 (previously $2.3bn). While we continue to like Qsymia’s best-in-class efficacy and recognize the potentially large market opportunity, we do not view VVUS’ current 150-specialty sales force as equipped to penetrate the large PCP market and we view a strong partner as essential to drive physician awareness. While a strong near-term partnership would bolster our outlook, we could see further downside from a partner with a specialty sales force (vs. primary care).”
Shares of VIVUS (NASDAQ:VVUS) opened at 9.41 on Wednesday. VIVUS has a 52-week low of $9.11 and a 52-week high of $15.62. The stock has a 50-day moving average of $9.91 and a 200-day moving average of $12.34. The company’s market cap is $949.0 million.
VIVUS (NASDAQ:VVUS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.48) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.38) by $0.10. The company had revenue of $27.38 million for the quarter, compared to the consensus estimate of $21.78 million. During the same quarter last year, the company posted ($0.40) earnings per share. VIVUS’s revenue was up 68400.0% compared to the same quarter last year. On average, analysts predict that VIVUS will post $-1.97 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on VVUS. Analysts at JPMorgan Chase & Co. cut their price target on shares of VIVUS from $22.00 to $18.00 in a research note to investors on Wednesday, October 16th. They now have an “overweight” rating on the stock. Separately, analysts at Piper Jaffray Cos. downgraded shares of VIVUS from an “overweight” rating to a “neutral” rating in a research note to investors on Wednesday, October 16th. They now have a $11.00 price target on the stock, down previously from $14.00. Finally, analysts at Leerink Swann reiterated an “outperform” rating on shares of VIVUS in a research note to investors on Friday, October 11th. They now have a $20.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $13.91.
VIVUS, Inc is a biopharmaceutical company. It commercializes and develops therapies to address unmet needs in obesity, sleep apnea, diabetes and sexual health.
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