Vitae Pharmaceuticals Inc. (VTAE) Trading 5.5% Higher
Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) traded up 5.5% during mid-day trading on Monday . The stock traded as high as $9.25 and last traded at $9.20, with a volume of 107,141 shares traded. The stock had previously closed at $8.72.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Vitae Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Wells Fargo & Co. restated a “buy” rating on shares of Vitae Pharmaceuticals in a research report on Friday, June 10th. JMP Securities downgraded Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $23.00 price objective on shares of Vitae Pharmaceuticals in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $16.65.
The firm’s 50 day moving average price is $10.37 and its 200-day moving average price is $8.65. The stock’s market cap is $253.80 million.
Vitae Pharmaceuticals (NASDAQ:VTAE) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.05. During the same quarter in the prior year, the company posted ($0.45) earnings per share. The business’s revenue was down 98.0% on a year-over-year basis. Analysts forecast that Vitae Pharmaceuticals Inc. will post ($1.63) EPS 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 Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 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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