Stock analysts at HC Wainwright began coverage on shares of vTv Therapeutics Inc. (NASDAQ:VTVT) in a report issued on Monday. The brokerage set a “buy” rating and a $13.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 81.31% from the company’s current price.
The analysts wrote, “We are more enthusiastic about the two diabetes drugs that should be ripe for partnering upon success in Phase 2. TTP399 completed a successful Phase 2b in August and TTP273 should have Phase 2b data in December, the nearest term catalyst,” analyst Corey Davis wrote in a note.Related Link: vTV Therapeutics Completes Enrollment For PHase 2 TTP273 TrialOn the other hand, although Azeliragon could be “one of the next wave of promising Alzheimer’s drugs,” the analyst is not expecting the stock to move near term on this drug given the history and lack of data until 2018.The upcoming catalysts include TTP273 Phase 2 data in diabetes and publication of Phase 2 results from TTP399 in diabetes, both expected in late 2016. Also, potential partnerships on one or both of the diabetes drugs could also boost the stock.On the partnering front, Davis said larger firms such as the following would make a good fit:AstraZeneca plc (ADR) (NYSE: AZN).Boehringer Ingelheim Corporation.Eli Lilly and Co (NYSE: LLY).GlaxoSmithKline plc (ADR) (NYSE: GSK).Johnson & Johnson (NYSE: JNJ).Merck & Co., Inc. (NYSE: MRK).Novartis AG (ADR) (NYSE: NVS).Novo Nordisk A/S (ADR) (NYSE: NVO).Sanofi SA (ADR) (NYSE: SNY).Takeda Pharmaceutical Co Ltd (ADR) (OTC: TKPYY).Meanwhile, the analyst sees a potential upside of 81 percent in vTv shares with a $13 target price.”Our target of $13 would only be a $425 million market cap. With some of the recent deals for diabetes drugs, a standard upfront milestone payment alone could allow the stock to reach our target,”
VTVT has been the topic of several other reports. Zacks Investment Research downgraded vTv Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. Canaccord Genuity restated a “buy” rating and issued a $15.00 price objective on shares of vTv Therapeutics in a research report on Friday, August 19th.
Shares of vTv Therapeutics (NASDAQ:VTVT) traded up 1.39% during midday trading on Monday, reaching $7.27. 25,876 shares of the company traded hands. The company has a 50-day moving average of $6.05 and a 200 day moving average of $5.81. The firm’s market capitalization is $70.45 million. vTv Therapeutics has a 12-month low of $4.84 and a 12-month high of $8.22.
vTv Therapeutics (NASDAQ:VTVT) last issued its quarterly earnings data on Tuesday, August 16th. The company reported ($0.47) earnings per share (EPS) for the quarter. On average, equities analysts forecast that vTv Therapeutics will post ($1.57) earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in VTVT. BlackRock Investment Management LLC increased its position in vTv Therapeutics by 25.3% in the second quarter. BlackRock Investment Management LLC now owns 27,758 shares of the company’s stock valued at $161,000 after buying an additional 5,596 shares during the period. Geode Capital Management LLC increased its position in vTv Therapeutics by 2.4% in the first quarter. Geode Capital Management LLC now owns 34,884 shares of the company’s stock valued at $180,000 after buying an additional 822 shares during the period. Kennedy Capital Management Inc. acquired a new position in vTv Therapeutics during the first quarter valued at $282,000. State Street Corp increased its position in vTv Therapeutics by 10.9% in the first quarter. State Street Corp now owns 61,239 shares of the company’s stock valued at $316,000 after buying an additional 6,000 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in vTv Therapeutics by 23.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 96,439 shares of the company’s stock valued at $559,000 after buying an additional 18,112 shares during the period. Hedge funds and other institutional investors own 12.84% 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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