BMO Capital Markets cut shares of Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) from an outperform rating to a market perform rating in a research note released on Thursday morning. They currently have $21.00 target price on the stock, up from their prior target price of $17.00.

A number of other research firms also recently commented on VTAE. Wells Fargo & Co. restated a buy rating on shares of Vitae Pharmaceuticals in a research note on Friday, June 10th. Wedbush restated an outperform rating and set a $23.00 price objective on shares of Vitae Pharmaceuticals in a research note on Wednesday, August 3rd. JMP Securities downgraded shares of Vitae Pharmaceuticals from an outperform rating to a market perform rating in a research note on Thursday, August 4th. Stifel Nicolaus downgraded shares of Vitae Pharmaceuticals from a buy rating to a hold rating and set a $21.00 price objective for the company. in a research note on Wednesday, September 14th. Finally, Zacks Investment Research downgraded shares of Vitae Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, July 13th. Seven equities research analysts have rated the stock with a hold rating, The company has a consensus rating of Hold and an average target price of $19.05.

Vitae Pharmaceuticals (NASDAQ:VTAE) opened at 20.88 on Thursday. The company’s 50-day moving average price is $9.95 and its 200 day moving average price is $8.84. The company’s market capitalization is $602.20 million. Vitae Pharmaceuticals has a 52 week low of $4.08 and a 52 week high of $20.97.

Vitae Pharmaceuticals (NASDAQ:VTAE) last released its earnings results on Wednesday, August 3rd. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.05. Vitae Pharmaceuticals had a negative return on equity of 65.51% and a negative net margin of 13,954.35%. The business’s quarterly revenue was down 98.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.45) earnings per share. On average, analysts predict that Vitae Pharmaceuticals will post ($1.64) EPS for the current year.

In related news, major shareholder Adage Capital Partners Gp, L.L sold 1,025,000 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $20.85, for a total value of $21,371,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey S. Hatfield sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $20.81, for a total transaction of $1,040,500.00. Following the completion of the sale, the chief executive officer now owns 244,996 shares of the company’s stock, valued at $5,098,366.76. The disclosure for this sale can be found here. 14.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of VTAE. Spark Investment Management LLC increased its stake in shares of Vitae Pharmaceuticals by 10.8% in the first quarter. Spark Investment Management LLC now owns 18,400 shares of the company’s stock valued at $121,000 after buying an additional 1,800 shares during the period. Mitra Capital LLC bought a new position in Vitae Pharmaceuticals during the first quarter valued at $2,671,000. Cormorant Asset Management LLC boosted its position in Vitae Pharmaceuticals by 178.3% in the first quarter. Cormorant Asset Management LLC now owns 1,735,000 shares of the company’s stock valued at $11,503,000 after buying an additional 1,111,591 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its position in Vitae Pharmaceuticals by 67.4% in the first quarter. Franklin Street Advisors Inc. NC now owns 83,700 shares of the company’s stock valued at $555,000 after buying an additional 33,700 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Vitae Pharmaceuticals by 24.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 383,040 shares of the company’s stock valued at $2,540,000 after buying an additional 74,558 shares in the last quarter. Institutional investors and hedge funds own 72.93% of the company’s stock.

About Vitae Pharmaceuticals

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.

5 Day Chart for NASDAQ:VTAE

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