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

Several other analysts have also recently commented on the company. Wedbush cut Vitae Pharmaceuticals from an outperform rating to a neutral rating and raised their target price for the stock from $21.00 to $23.00 in a research report on Wednesday, September 14th. Stifel Nicolaus cut Vitae Pharmaceuticals from a buy rating to a hold rating and set a $21.00 price objective for the company. in a research report on Wednesday, September 14th. Wells Fargo & Co. cut Vitae Pharmaceuticals from an outperform rating to a market perform rating in a research report on Sunday, September 11th. JMP Securities cut Vitae Pharmaceuticals from an outperform rating to a market perform rating in a research report on Thursday, August 4th. Finally, Zacks Investment Research cut Vitae Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, July 13th. Seven research analysts have rated the stock with a hold rating, Vitae Pharmaceuticals has an average rating of Hold and an average price target of $19.05.

Shares of Vitae Pharmaceuticals (NASDAQ:VTAE) opened at 20.88 on Thursday. The firm’s 50-day moving average price is $9.95 and its 200-day moving average price is $8.84. The firm’s market cap 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 issued its earnings results on Wednesday, August 3rd. The company reported ($0.36) EPS for the quarter, topping the Thomson Reuters’ 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 company’s revenue was down 98.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.45) earnings per share. Equities research analysts expect that Vitae Pharmaceuticals will post ($1.64) EPS for the current fiscal year.

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

A number of institutional investors have recently modified their holdings of VTAE. Spark Investment Management LLC raised its position 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 in the last quarter. BlackRock Advisors LLC raised its position in shares of Vitae Pharmaceuticals by 73.8% in the second quarter. BlackRock Advisors LLC now owns 10,078 shares of the company’s stock valued at $109,000 after buying an additional 4,280 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Vitae Pharmaceuticals by 39.5% in the second quarter. ProShare Advisors LLC now owns 24,686 shares of the company’s stock valued at $266,000 after buying an additional 6,991 shares in the last quarter. American International Group Inc. raised its position in shares of Vitae Pharmaceuticals by 94.9% in the second quarter. American International Group Inc. now owns 15,136 shares of the company’s stock valued at $163,000 after buying an additional 7,368 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Vitae Pharmaceuticals by 20.8% in the second quarter. Nationwide Fund Advisors now owns 46,537 shares of the company’s stock valued at $502,000 after buying an additional 8,004 shares in the last quarter. Hedge funds and other institutional investors own 72.93% of the company’s stock.

Vitae Pharmaceuticals Company Profile

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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