Yi Chen, an analyst from H.C. Wainwright, reiterated the Buy rating on Vivani Medical. The associated price target is $3.50.

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Yi Chen has given his Buy rating due to a combination of factors that highlight both strategic validation and upside potential for Vivani Medical. The newly signed agreement allowing Novo Nordisk to run an internal, non-exclusive evaluation of Vivani’s NPM-139 semaglutide implant is viewed as a meaningful external endorsement of the NanoPortal platform, especially since semaglutide is a key asset for Novo with patent protection expiring in 2032, creating an incentive to explore long-acting lifecycle extensions.

Yi Chen’s rating is based on the expectation that successful Phase 1 data for NPM-139, targeted to begin in mid-2026 with readout by year-end, could pave the way for a deeper collaboration with Novo and unlock significant value. In addition, the planned merger of Vivani’s Cortigent unit with Nasdaq-listed ClearOne is expected to lower Vivani’s direct spending on Cortigent while preserving a majority equity stake in the combined entity, supporting both capital efficiency and continued participation in Cortigent’s future growth, which underpins the reaffirmed Buy rating and $3.50 price target.

In another report released yesterday, Maxim Group also reiterated a Buy rating on the stock with a $4.00 price target.