“We spoke with the CFO, Scott Durbin post announcement this morning. Scott emphasized that while the discounted price of $3.00 relative to yesterday’s closing ($3.83) was disappointing, the newly raised capital is adequate to support continued business expansion into the end of 2019 and removes a financing overhang. The company is still hopeful in receiving clearance from the FDA to run the sexual dysfunction study by the end of Q1, 2018.”,” Mizuho’s analyst wrote.
A number of other equities analysts also recently commented on the stock. ValuEngine downgraded shares of Viveve Medical from a sell rating to a strong sell rating in a research note on Friday, December 1st. Cowen set a $11.00 price objective on shares of Viveve Medical and gave the stock a buy rating in a research note on Monday, October 23rd. Northland Securities initiated coverage on shares of Viveve Medical in a research note on Friday, January 5th. They issued an outperform rating and a $8.00 target price for the company. Finally, Ladenburg Thalmann Financial Services reiterated a buy rating on shares of Viveve Medical in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Viveve Medical currently has an average rating of Buy and an average target price of $10.00.
Several institutional investors and hedge funds have recently made changes to their positions in VIVE. Rhumbline Advisers bought a new position in shares of Viveve Medical during the second quarter worth approximately $110,000. JPMorgan Chase & Co. bought a new position in Viveve Medical in the second quarter valued at approximately $151,000. Virtu KCG Holdings LLC bought a new position in Viveve Medical in the second quarter valued at approximately $169,000. Wells Fargo & Company MN increased its stake in Viveve Medical by 135.1% in the fourth quarter. Wells Fargo & Company MN now owns 37,727 shares of the company’s stock valued at $188,000 after acquiring an additional 21,683 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new position in Viveve Medical in the second quarter valued at approximately $189,000. 66.98% of the stock is currently owned by institutional investors.
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About Viveve Medical
Viveve Medical, Inc designs, develops, manufactures and markets a medical device, Geneveve, for the non-invasive treatment of vaginal laxity, for improved sexual function, and for vaginal rejuvenation. The Company’s, Geneveve, is a non-invasive solution for vaginal laxity, which includes three components: the Viveve System (a radio frequency (RF), generator housed in a table-top console), a reusable handpiece and a single-use treatment tip, as well as several other consumable accessories.
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