Viveve Medical (VIVE) PT Lowered to $4 at Mizuho Securities

Mizuho Securities lowered its price target on Viveve Medical (NASDAQ: VIVE) to $4.00 (from $10.00) while maintaining a Buy rating.

Analyst Difei Yang comments "Viveve reported earnings yesterday. Revenue of $3.7 mil in 1Q18 came in below Bloomberg consensus of $4.7 mil while 1Q18 EPS of $(0.49) also missed consensus of $(0.37). This was driven by lower than anticipated system sales in 1Q18 and deep discount offered on tip sales. The CEO is stepping down and the CFO will assume the CEO role. We see elevated execution risk at a crucial stage development for the company. Despite all the headwinds, we still like the technology, favorable demographics and the attractive valuation."

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