Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) was downgraded by Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research note issued on Tuesday.

Other equities research analysts also recently issued reports about 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. reaffirmed a “buy” rating on shares of Vitae Pharmaceuticals in a research report on Friday, June 10th. Wedbush downgraded Vitae Pharmaceuticals from an “outperform” rating to a “neutral” rating and raised their price target for the company from $21.00 to $23.00 in a research report on Wednesday, September 14th. Stifel Nicolaus downgraded Vitae Pharmaceuticals from a “buy” rating to a “hold” rating and set a $21.00 price target on the stock. in a research report on Wednesday, September 14th. Finally, JMP Securities downgraded Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 4th. Seven equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus price target of $19.05.

Analyst Recommendations for Vitae Pharmaceuticals (NASDAQ:VTAE)

Shares of Vitae Pharmaceuticals (NASDAQ:VTAE) traded up 0.14% during trading on Tuesday, reaching $20.88. The company’s stock had a trading volume of 877,558 shares. Vitae Pharmaceuticals has a 1-year low of $4.08 and a 1-year high of $20.97. The stock’s market capitalization is $602.20 million. The company’s 50-day moving average price is $9.66 and its 200 day moving average price is $8.73.

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Vitae Pharmaceuticals (NASDAQ:VTAE) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.36) earnings per share (EPS) for the quarter, beating 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 for the quarter was down 98.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.45) EPS. Analysts anticipate that Vitae Pharmaceuticals will post ($1.64) EPS for the current year.

In other Vitae Pharmaceuticals news, 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 transaction, the chief executive officer now owns 244,996 shares in the company, valued at $5,098,366.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 stock was sold at an average price of $20.85, for a total transaction of $21,371,250.00. The disclosure for this sale can be found here. 14.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors boosted its position in shares of Vitae Pharmaceuticals by 2.8% in the first quarter. BlackRock Fund Advisors now owns 630,686 shares of the company’s stock worth $4,181,000 after buying an additional 17,220 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of 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 worth $2,540,000 after buying an additional 74,558 shares in the last quarter. Spark Investment Management LLC boosted 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 worth $121,000 after buying an additional 1,800 shares in the last quarter. State Street Corp boosted its position in shares of Vitae Pharmaceuticals by 24.4% in the first quarter. State Street Corp now owns 187,856 shares of the company’s stock worth $1,245,000 after buying an additional 36,832 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Vitae Pharmaceuticals by 12.1% in the first quarter. Geode Capital Management LLC now owns 84,010 shares of the company’s stock worth $556,000 after buying an additional 9,059 shares in the last quarter. Hedge funds and other institutional investors 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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