vTv Therapeutics Inc. (VTVT) Rating Increased to Buy at Zacks Investment Research
vTv Therapeutics Inc. (NASDAQ:VTVT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The brokerage currently has a $6.25 target price on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.62% from the company’s current price.
According to Zacks, “vTv Therapeutics Inc. is a biopharmaceutical company which is engaged in the discovery and development of orally administered small molecule drug candidates to fill unmet medical needs. Its drug candidate for the treatment of Alzheimers disease includes azeliragon TTP488, which is in Phase III clinical trials; type II diabetes drug candidates include Glucokinase Activator TTP399 and GLP-1r Agonist TTP273 which completed Phase I clinical trials; products for the prevention of muscle weakness and treatment of inflammatory disorders include HPP593, HPP737 and HPP971 which is in Phase1 clinical trials. The Company’s drug discovery platform consists of TTP Translational Technology. vTv Therapeutics Inc. is headquartered in High Point, North Carolina. “
VTVT has been the topic of several other research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $15.00 price objective on shares of vTv Therapeutics in a research report on Friday, August 4th. HC Wainwright set a $13.00 price objective on vTv Therapeutics and gave the company a “buy” rating in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $14.45.
Shares of vTv Therapeutics (NASDAQ:VTVT) traded down 0.70% on Friday, hitting $5.65. 19,369 shares of the stock traded hands. vTv Therapeutics has a 52-week low of $3.57 and a 52-week high of $7.50. The firm has a 50 day moving average price of $4.69 and a 200 day moving average price of $5.21. The firm’s market cap is $54.77 million.
vTv Therapeutics (NASDAQ:VTVT) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.41) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.19 million. On average, equities analysts forecast that vTv Therapeutics will post ($1.06) EPS for the current year.
In other vTv Therapeutics news, major shareholder Ronald O. Perelman acquired 50,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were bought at an average price of $4.72 per share, with a total value of $236,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ronald O. Perelman acquired 85,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $4.13 per share, for a total transaction of $351,050.00. The disclosure for this purchase can be found here. Insiders acquired a total of 165,000 shares of company stock worth $728,150 in the last ninety days. 0.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in VTVT. Ameriprise Financial Inc. grew its position in vTv Therapeutics by 62.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 264,214 shares of the biotechnology company’s stock valued at $1,313,000 after acquiring an additional 101,850 shares during the last quarter. Sphera Funds Management LTD. grew its position in vTv Therapeutics by 50.0% in the 1st quarter. Sphera Funds Management LTD. now owns 300,000 shares of the biotechnology company’s stock valued at $1,965,000 after acquiring an additional 100,000 shares during the last quarter. Renaissance Technologies LLC grew its position in vTv Therapeutics by 4.8% in the 1st quarter. Renaissance Technologies LLC now owns 63,800 shares of the biotechnology company’s stock valued at $418,000 after acquiring an additional 2,900 shares during the last quarter. State Street Corp grew its position in vTv Therapeutics by 2.1% in the 2nd quarter. State Street Corp now owns 98,016 shares of the biotechnology company’s stock valued at $486,000 after acquiring an additional 1,976 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in vTv Therapeutics by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 22,780 shares of the biotechnology company’s stock valued at $149,000 after acquiring an additional 1,305 shares during the last quarter. 11.05% of the stock is currently owned by institutional investors.
About vTv Therapeutics
vTv Therapeutics Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of orally administered small molecule drug candidates. Its drug candidate for the treatment of Alzheimer’s disease (AD) is azeliragon (TTP488), an orally administered, small molecule antagonist targeting the receptor for advanced glycation endproducts (RAGE), for which it has commenced patient enrollment in a Phase III clinical trial.
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