Vitae Pharmaceuticals Inc. (VTAE) Shares Down 3.6%
Shares of Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) fell 3.6% during trading on Thursday . The stock traded as low as $10.91 and last traded at $10.96, with a volume of 53,686 shares trading hands. The stock had previously closed at $11.37.
Several brokerages have commented on VTAE. Zacks Investment Research cut shares of Vitae Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. BMO Capital Markets began coverage on shares of Vitae Pharmaceuticals in a research report on Monday, April 11th. They set an “outperform” rating and a $15.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $23.00 target price on shares of Vitae Pharmaceuticals in a research report on Wednesday, May 25th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Vitae Pharmaceuticals in a research report on Friday, June 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $16.65.
The stock’s market capitalization is $307.16 million. The stock’s 50-day moving average is $10.52 and its 200 day moving average is $8.79.
Vitae Pharmaceuticals (NASDAQ:VTAE) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.07. The firm had revenue of $0.05 million for the quarter. During the same quarter last year, the company earned ($0.47) EPS. The company’s quarterly revenue was down 66.7% compared to the same quarter last year. On average, equities research analysts expect that Vitae Pharmaceuticals Inc. will post ($1.74) earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Vitae Pharmaceuticals stock. Dimensional Fund Advisors LP bought a new position in shares of Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 73,607 shares of the company’s stock, valued at approximately $1,332,000. Dimensional Fund Advisors LP owned approximately 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.
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