Vitae Pharmaceuticals Inc. (VTAE) Shares Up 5.5%
Vitae Pharmaceuticals Inc. (NASDAQ:VTAE)’s share price shot up 5.5% on Monday . The company traded as high as $9.25 and last traded at $9.20, with a volume of 107,141 shares. The stock had previously closed at $8.72.
A number of brokerages recently weighed in on VTAE. Zacks Investment Research downgraded shares of Vitae Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. JMP Securities downgraded shares of Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday. BMO Capital Markets initiated coverage on shares of Vitae Pharmaceuticals in a research note on Monday, April 11th. They issued an “outperform” rating and a $15.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Vitae Pharmaceuticals in a research note on Wednesday, May 25th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Vitae Pharmaceuticals in a research note on Friday, June 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.65.
The company has a 50 day moving average of $10.44 and a 200-day moving average of $8.73. The firm’s market capitalization is $262.16 million.
Vitae Pharmaceuticals (NASDAQ:VTAE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.05. The business’s quarterly revenue was down 98.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.45) earnings per share. On average, analysts anticipate that Vitae Pharmaceuticals Inc. will post ($1.63) EPS for the current year.
A hedge fund recently bought a new stake in Vitae Pharmaceuticals stock. Dimensional Fund Advisors LP bought a new stake in Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 73,607 shares of the company’s stock, valued at approximately $1,332,000. Dimensional Fund Advisors LP owned 0.34% of Vitae Pharmaceuticals as of its most recent SEC filing.
Vitae Pharmaceuticals, Inc is a biotechnology company. The Company is focused on discovering and developing small molecule drugs for diseases. It is engaged in developing a portfolio of product candidates through Contour, its structure-based drug discovery platform. The Company’s product candidates include VTP- 43742 for the treatment of psoriasis, as well as multiple other autoimmune disorders.
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