Vitae Pharmaceuticals Inc. (VTAE) Shares Down 4.3%
Vitae Pharmaceuticals Inc. (NASDAQ:VTAE)’s share price fell 4.3% during trading on Wednesday . The stock traded as low as $8.17 and last traded at $8.21, with a volume of 73,449 shares traded. The stock had previously closed at $8.58.
Several brokerages have recently commented on VTAE. JMP Securities cut shares of Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 4th. Wedbush reissued an “outperform” rating and issued a $23.00 target price on shares of Vitae Pharmaceuticals in a report on Wednesday, August 3rd. Zacks Investment Research cut shares of Vitae Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Vitae Pharmaceuticals in a report on Friday, June 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $16.65.
The firm’s market cap is $235.92 million. The stock has a 50-day moving average price of $10.12 and a 200 day moving average price of $8.58.
Vitae Pharmaceuticals (NASDAQ:VTAE) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.05. During the same quarter in the prior year, the company posted ($0.45) earnings per share. The company’s revenue for the quarter was down 98.0% compared to the same quarter last year. Equities analysts expect that Vitae Pharmaceuticals Inc. will post ($1.64) EPS for the current fiscal 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 institutional investor bought 73,607 shares of the company’s stock, valued at approximately $1,332,000. Dimensional Fund Advisors LP owned about 0.34% of Vitae Pharmaceuticals at the end of the most recent quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.