Vitae Pharmaceuticals Inc. (VTAE) Trading Up 2.7%
Vitae Pharmaceuticals Inc. (NASDAQ:VTAE)’s share price was up 2.7% during trading on Thursday . The stock traded as high as $7.43 and last traded at $7.33, with a volume of 55,666 shares changing hands. The stock had previously closed at $7.14.
Several equities analysts have commented on VTAE shares. Zacks Investment Research downgraded Vitae Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Wedbush reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Vitae Pharmaceuticals in a research report on Wednesday, May 25th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Vitae Pharmaceuticals in a research report on Friday, June 10th. Finally, JMP Securities downgraded Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $16.65.
The stock’s market cap is $201.02 million. The stock has a 50-day moving average price of $9.45 and a 200-day moving average price of $8.49.
Vitae Pharmaceuticals (NASDAQ:VTAE) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.05. Vitae Pharmaceuticals’s revenue for the quarter was down 98.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.45) earnings per share. On average, analysts forecast that Vitae Pharmaceuticals Inc. will post ($1.64) earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Vitae Pharmaceuticals stock. Dimensional Fund Advisors LP purchased a new stake in Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 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 reporting period.
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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