vTv Therapeutics Inc. (VTVT) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of vTv Therapeutics Inc. (NASDAQ:VTVT) from a hold rating to a buy rating in a report released on Saturday. They currently have $6.00 price target on the biotechnology company’s stock.
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 recently issued reports on VTVT. HC Wainwright set a $13.00 price objective on shares of vTv Therapeutics and gave the stock a buy rating in a report on Friday, August 4th. Canaccord Genuity reiterated a buy rating and issued a $15.00 price objective on shares of vTv Therapeutics in a report on Friday, August 4th. Five equities research analysts have rated the stock with a buy rating, The company has an average rating of Buy and a consensus target price of $14.40.
vTv Therapeutics (VTVT) opened at 6.07 on Friday. The firm’s market cap is $58.84 million. vTv Therapeutics has a 52 week low of $4.65 and a 52 week high of $7.50. The firm’s 50 day moving average price is $5.65 and its 200-day moving average price is $5.65.
vTv Therapeutics (NASDAQ:VTVT) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.02. The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.19 million. On average, analysts forecast that vTv Therapeutics will post ($1.06) EPS for the current year.
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In other news, major shareholder Ronald O. Perelman purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was bought at an average cost of $4.57 per share, for a total transaction of $91,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ronald O. Perelman purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average price of $4.72 per share, with a total value of $236,000.00. The disclosure for this purchase can be found here. Insiders have acquired 165,000 shares of company stock valued at $728,150 over the last 90 days. Corporate insiders own 0.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in VTVT. Ameriprise Financial Inc. boosted its holdings in vTv Therapeutics by 62.7% during the second 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 period. Sphera Funds Management LTD. boosted its holdings in vTv Therapeutics by 50.0% during the first 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 period. Renaissance Technologies LLC boosted its holdings in vTv Therapeutics by 4.8% during the first 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 period. State Street Corp boosted its holdings in vTv Therapeutics by 2.1% during the second 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 period. Finally, Bank of New York Mellon Corp boosted its holdings in vTv Therapeutics by 6.1% during the first 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 period. 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.
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