Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) today announced the Company’s Board of Directors has appointed independent director Ann Merrifield to the newly created position of Lead Director. The Lead Director will serve as a liaison between the Chairman and non-management directors, chair all executive sessions, and work with the Chairman on meeting agendas and time schedules for the Board of Directors.
“Ann Merrifield’s deep industry knowledge and expertise has proven to be invaluable since joining the Board of Directors in November 2014,” said Mark Perrin, InVivo’s Chief Executive Officer and Chairman. “Her proven leadership capabilities make her an excellent choice for Lead Director, and I look forward to working closely with her.”
The Company’s Board of Directors also approved splitting the Governance, Nominating, and Compensation Committee into two committees: the Nominating and Corporate Governance Committee and the Compensation Committee. Ann Merrifield has been appointed as the new Chairwoman of the Nominating and Corporate Governance Committee. Kenneth DiPietro will serve as Chairman of the newly created Compensation Committee, and John McCarthy, Jr. will continue to serve as the Audit Committee Chairman. (Original Source)
Shares of Invivo closed yesterday at $16.00. NVIV has a 1-year high of $19.68 and a 1-year low of $1.88. The stock’s 50-day moving average is $13.37 and its 200-day moving average is $9.92.
On the ratings front, H.C. Wainwright analyst Andrew Fein initiated coverage with a Buy rating on NVIV and a price target of $25, in a report issued on April 20. The current price target represents a potential upside of 56.3% from where the stock is currently trading. According to TipRanks.com, Fein has a total average return of 27.0%, a 69.7% success rate, and is ranked #81 out of 3629 analysts.
InVivo Therapeutics Holdings Corp is a research and clinical-stage biomaterials and biotechnology company with a focus on treatment of spinal cord injuries.