Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) saw strong trading volume on Friday . 701,723 shares changed hands during trading, an increase of 241% from the previous session’s volume of 205,566 shares.The stock last traded at $8.60 and had previously closed at $8.60.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research cut Vitae Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. JMP Securities cut Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, August 4th. Wedbush reiterated an “outperform” rating and set a $23.00 price target on shares of Vitae Pharmaceuticals in a report on Wednesday, August 3rd. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Vitae Pharmaceuticals in a report on Friday, June 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $16.65.

The stock’s market capitalization is $248.90 million. The company’s 50-day moving average price is $10.22 and its 200 day moving average price is $8.63.

Vitae Pharmaceuticals (NASDAQ:VTAE) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.36) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.05. Vitae Pharmaceuticals’s revenue was down 98.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.45) EPS. On average, equities analysts anticipate that Vitae Pharmaceuticals Inc. will post ($1.64) earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Vitae Pharmaceuticals stock. Dimensional Fund Advisors LP purchased a new position in Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 73,607 shares of the company’s stock, valued at approximately $1,332,000. Dimensional Fund Advisors LP owned 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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