Vitae Pharmaceuticals Inc. (VTAE) Trading Up 3.4%
Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) shares were up 3.4% during mid-day trading on Monday . The stock traded as high as $10.38 and last traded at $10.36, with a volume of 80,100 shares traded. The stock had previously closed at $10.02.
Several research analysts have recently issued reports on VTAE shares. Piper Jaffray Cos. reissued a “buy” rating on shares of Vitae Pharmaceuticals in a research report on Sunday, March 20th. Wedbush reissued an “outperform” rating and issued a $23.00 target price on shares of Vitae Pharmaceuticals in a research report on Tuesday, March 29th. Zacks Investment Research raised Vitae Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research report on Thursday, April 7th. BMO Capital Markets started coverage on Vitae Pharmaceuticals in a research report on Monday, April 11th. They issued an “outperform” rating and a $15.00 target price for the company. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Vitae Pharmaceuticals in a research report on Friday, June 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.65.
The company’s market capitalization is $298.22 million. The firm’s 50-day moving average price is $10.40 and its 200-day moving average price is $8.94.
Vitae Pharmaceuticals (NASDAQ:VTAE) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.44) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.07. The company had revenue of $0.05 million for the quarter. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. Vitae Pharmaceuticals’s revenue was down 66.7% compared to the same quarter last year. On average, equities research analysts forecast that Vitae Pharmaceuticals Inc. will post ($1.74) earnings per share for the current year.
An institutional investor recently bought a new position in Vitae Pharmaceuticals stock. Dimensional Fund Advisors LP bought a new stake in shares of Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the SEC.
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.