Vitae Pharmaceuticals Inc. (VTAE) Lowered to “Neutral” at Piper Jaffray Cos.
Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) was downgraded by analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a report issued on Tuesday.
A number of other equities analysts have also issued reports on VTAE. Wedbush reissued an “outperform” rating and set a $23.00 price target on shares of Vitae Pharmaceuticals in a report on Wednesday, May 25th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Vitae Pharmaceuticals in a report on Friday, June 10th. Zacks Investment Research lowered Vitae Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. JMP Securities lowered Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, August 4th. Finally, Stifel Nicolaus lowered Vitae Pharmaceuticals from a “buy” rating to a “hold” rating and set a $21.00 price objective on the stock. in a report on Wednesday, September 14th. Seven 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.
Vitae Pharmaceuticals (NASDAQ:VTAE) traded up 0.14% during midday trading on Tuesday, hitting $20.88. The stock had a trading volume of 877,558 shares. Vitae Pharmaceuticals has a 12-month low of $4.08 and a 12-month high of $20.97. The stock has a 50-day moving average price of $9.66 and a 200 day moving average price of $8.73. The firm’s market cap is $602.20 million.
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Vitae Pharmaceuticals (NASDAQ:VTAE) last released its quarterly 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%. During the same quarter last year, the company earned ($0.45) EPS. The business’s quarterly revenue was down 98.0% on a year-over-year basis. On average, equities analysts anticipate that Vitae Pharmaceuticals will post ($1.64) earnings per share for the current fiscal year.
In other news, CEO Jeffrey S. Hatfield sold 50,000 shares of Vitae Pharmaceuticals stock in a transaction that occurred on 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 directly owns 244,996 shares in the company, valued at approximately $5,098,366.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Adage Capital Partners Gp, L.L sold 1,025,000 shares of Vitae Pharmaceuticals stock in a transaction that occurred on Wednesday, September 14th. The shares were 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. Insiders own 14.80% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. FMR LLC increased its stake in Vitae Pharmaceuticals by 65.4% in the second quarter. FMR LLC now owns 4,179,473 shares of the company’s stock worth $45,097,000 after buying an additional 1,653,200 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Vitae Pharmaceuticals by 58.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,400,000 shares of the company’s stock worth $22,542,000 after buying an additional 1,250,000 shares during the last quarter. Cormorant Asset Management LLC increased its stake 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 worth $11,503,000 after buying an additional 1,111,591 shares during the last quarter. BlackRock Fund Advisors increased its stake in Vitae Pharmaceuticals by 66.5% in the second quarter. BlackRock Fund Advisors now owns 1,050,353 shares of the company’s stock worth $11,333,000 after buying an additional 419,667 shares during the last quarter. Finally, Mitra Capital LLC bought a new stake in Vitae Pharmaceuticals during the first quarter worth about $2,671,000. 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.
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