Vitae Pharmaceuticals Inc. (NASDAQ:VTAE)’s share price fell 1.9% during trading on Tuesday . The company traded as low as $7.59 and last traded at $7.60, with a volume of 60,191 shares traded. The stock had previously closed at $7.75.

A number of brokerages have commented on VTAE. Zacks Investment Research downgraded shares of Vitae Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Wells Fargo & Co. restated a “buy” rating on shares of Vitae Pharmaceuticals in a research note on Friday, June 10th. JMP Securities downgraded shares of Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 4th. Finally, Wedbush restated an “outperform” rating and issued a $23.00 target price on shares of Vitae Pharmaceuticals in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $16.65.

The firm has a 50 day moving average of $9.79 and a 200 day moving average of $8.53. The firm’s market capitalization is $220.63 million.

Vitae Pharmaceuticals (NASDAQ:VTAE) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.36) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.05. Vitae Pharmaceuticals’s revenue for the quarter was down 98.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.45) earnings per share. Equities analysts expect that Vitae Pharmaceuticals Inc. will post ($1.64) earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Vitae Pharmaceuticals stock. Dimensional Fund Advisors LP bought a new position in Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 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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