Zacks Investment Research Upgrades vTv Therapeutics Inc. (VTVT) to “Buy”
vTv Therapeutics Inc. (NASDAQ:VTVT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The firm presently has a $6.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 5.45% from the company’s previous close.
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. “
A number of other brokerages have also issued reports on VTVT. Canaccord Genuity reiterated a “buy” rating and set a $15.00 target price on shares of vTv Therapeutics in a research report on Friday, August 4th. HC Wainwright set a $13.00 target price on vTv Therapeutics and gave the company a “buy” rating in a research report on Friday, August 4th. Five analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $14.40.
Shares of vTv Therapeutics (VTVT) opened at 5.69 on Friday. The stock’s 50 day moving average is $5.50 and its 200 day moving average is $5.73. The company’s market cap is $55.15 million. vTv Therapeutics has a 52-week low of $4.65 and a 52-week high of $7.50.
vTv Therapeutics (NASDAQ:VTVT) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.19 million. 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 bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were purchased at an average price of $4.97 per share, for a total transaction of $49,700.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Ronald O. Perelman bought 85,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $4.13 per share, for a total transaction of $351,050.00. The disclosure for this purchase can be found here. Insiders have bought a total of 165,000 shares of company stock worth $728,150 in the last quarter. Insiders own 0.80% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Sphera Funds Management LTD. lifted its position in shares of vTv Therapeutics by 50.0% during the 1st quarter. Sphera Funds Management LTD. now owns 300,000 shares of the biotechnology company’s stock valued at $1,965,000 after buying an additional 100,000 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of vTv Therapeutics by 62.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 264,214 shares of the biotechnology company’s stock valued at $1,313,000 after buying an additional 101,850 shares in the last quarter. State Street Corp lifted its position in shares of vTv Therapeutics by 2.1% during the 2nd quarter. State Street Corp now owns 98,016 shares of the biotechnology company’s stock valued at $486,000 after buying an additional 1,976 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of vTv Therapeutics by 4.8% during the 1st quarter. Renaissance Technologies LLC now owns 63,800 shares of the biotechnology company’s stock valued at $418,000 after buying an additional 2,900 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of vTv Therapeutics by 6.1% during 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 buying an additional 1,305 shares in the last quarter. Hedge funds and other institutional investors own 11.05% of the company’s stock.
vTv Therapeutics Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for vTv Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for vTv Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.