Shares of Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) fell 13.5% during mid-day trading on Thursday . The stock traded as low as $8.86 and last traded at $8.90, with a volume of 293,888 shares traded. The stock had previously closed at $10.29.

Several brokerages have issued reports on VTAE. Zacks Investment Research lowered Vitae Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. JMP Securities lowered Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Vitae Pharmaceuticals in a research note on Wednesday. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Vitae Pharmaceuticals in a research note on Friday, June 10th. Finally, BMO Capital Markets initiated coverage on Vitae Pharmaceuticals in a research note on Monday, April 11th. They issued an “outperform” rating and a $15.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Vitae Pharmaceuticals has a consensus rating of “Buy” and an average target price of $16.65.

The firm’s 50 day moving average price is $10.44 and its 200-day moving average price is $8.73. The company’s market capitalization is $251.49 million.

Vitae Pharmaceuticals (NASDAQ:VTAE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.36) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.05. The business’s revenue was down 98.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.45) EPS. On average, equities research analysts forecast that Vitae Pharmaceuticals Inc. will post ($1.63) EPS 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. 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 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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