Vitae Pharmaceuticals Inc. (NASDAQ:VTAE)’s share price rose 2.7% during trading on Thursday . The stock traded as high as $7.43 and last traded at $7.33, with a volume of 55,666 shares trading hands. The stock had previously closed at $7.14.

VTAE has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Vitae Pharmaceuticals in a research note on Wednesday, May 25th. Zacks Investment Research raised shares of Vitae Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $7.25 price target for the company in a research note on Thursday, May 5th. JMP Securities cut shares of Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 4th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Vitae Pharmaceuticals in a research note on Friday, June 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $16.65.

The firm’s market capitalization is $202.18 million. The firm has a 50 day moving average price of $9.64 and a 200 day moving average price of $8.51.

Vitae Pharmaceuticals (NASDAQ:VTAE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.36) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.05. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. The company’s quarterly revenue was down 98.0% compared to the same quarter last year. Equities research analysts predict that Vitae Pharmaceuticals Inc. will post ($1.64) earnings per share for the current year.

An institutional investor recently bought a new position in Vitae Pharmaceuticals stock. Dimensional Fund Advisors LP acquired a new stake in Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 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 quarter.

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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