vTv Therapeutics (VTVT) PT Lowered to $45 at H.C. Wainwright
H.C. Wainwright analyst Emily Bodnar lowered the price target on vTv Therapeutics (NASDAQ: VTVT) to $45.00 (from $47.00) while maintaining a Buy rating.
The analyst commented: "Yesterday after market close, vTv reported 1Q26 earnings and provided a corporate update, reiterating enrollment timelines. We remind, in March, the company updated its enrollment guidance for the CATT1 trial evaluating cadisegliatin (cadi) in Type 1 Diabetes (T1D) as an insulin adjuvant therapy, shifting from completion in 1H26 to 3Q26. The trial (NCT06334133) is now actively enrolling and dosing patients across 56 sites, which is in-line with management's prior guidance of 55 sites activated in total. While the study has experienced slower than anticipated enrollment, we believe that this, alongside increased investigator and patient engagement via additional personnel will allow the company to achieve its 3Q26 enrollment target of ~150 patients. We remind, the company also shortened the GLP-1 agonist washout period from 90 to 30 days, which makes strategic sense given the growing use of these therapies, especially oral options. We continue to view this delay as a logistical challenge, typical of new trials, as opposed to a signal of demand weakness for cadi. While no granular guidance has been provided to date, we remain confident in our estimate that topline data will be disclosed 1H27 instead of YE2026, given the trial's 6-month endpoint and the ~4-6 weeks required for data analysis (~7-8 months after last patient in). We continue to have confidence that CATT1 will be a positive trial, supported by Phase 2 SimpliciT1 data, and we are encouraged by the acceleration in trial enrollment as well as the clear guidance provided on complete enrollment. Reiterate Buy rating and reduce PT to $45 from $47."