vTv Therapeutics Inc. (VTVT) Earns “Buy” Rating from Canaccord Genuity
Canaccord Genuity restated their buy rating on shares of vTv Therapeutics Inc. (NASDAQ:VTVT) in a research note published on Friday. Canaccord Genuity currently has a $15.00 price target on the biotechnology company’s stock.
“We reiterate our BUY. Pivotal Ph3 azeliragon Alzheimer trials enrollment complete: Part A to deliver data in 1H18 and Part B in 2H. Mgmt. announced Ph3 STEADFAST Part B completed enrollment, including 20-25% ROW pts. Conducted under Special Protocol Assessment, STEADFAST is an 18-month, randomized, double-blind, placebo-controlled study assessing oral, once- daily azeliragon’s effect on cognitive/functional decline in 400 mild Alzheimer’s Disease (AD) pts. on standard-of-care (SOC; acetylcholinesterase inhibitor and/or memantine). Co-primary endpoints include change in AD Assessment Scale-cognitive subscale (ADAS- Cog11) and Clinical Dementia Rating Scale Sum of Boxes (CDR-sb). Part A completed enrollment in mid-16. In a Ph2b trial assessing SOC +/- 5mg azeliragon at 18 months, daily azeliragon was well-tolerated and had significantly lower ADAS-Cog11 and CDR-sb score decline, with greater benefit in mild patients, and significantly fewer psychiatric events.”,” Canaccord Genuity’s analyst commented.
A number of other equities analysts have also commented on VTVT. HC Wainwright set a $13.00 price target on vTv Therapeutics and gave the company a buy rating in a research note on Friday. Zacks Investment Research upgraded vTv Therapeutics from a hold rating to a buy rating and set a $5.50 price target on the stock in a report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $14.30.
Shares of vTv Therapeutics (VTVT) traded up 0.9568% on Friday, reaching $4.2099. The company’s stock had a trading volume of 4,737 shares. vTv Therapeutics has a 12-month low of $4.10 and a 12-month high of $7.50. The company’s 50-day moving average is $4.73 and its 200 day moving average is $5.35. The company’s market capitalization is $138.14 million.
vTv Therapeutics (NASDAQ:VTVT) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.02. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.19 million. Equities analysts anticipate that vTv Therapeutics will post ($1.08) earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the company. Essex Investment Management Co. LLC bought a new position in shares of vTv Therapeutics during the first quarter valued at about $261,000. Renaissance Technologies LLC boosted its position in shares of vTv Therapeutics by 24.3% in the fourth quarter. Renaissance Technologies LLC now owns 60,900 shares of the biotechnology company’s stock valued at $294,000 after buying an additional 11,901 shares during the period. Sphera Funds Management LTD. boosted its position in shares of vTv Therapeutics by 50.0% in the first 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 during the period. Candriam Luxembourg S.C.A. bought a new position in shares of vTv Therapeutics during the first quarter valued at about $917,000. Finally, Bank of New York Mellon Corp boosted its position in shares of vTv Therapeutics by 6.1% in 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 buying an additional 1,305 shares during the period. 11.12% of the stock is owned by institutional investors.
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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