Vitae Pharmaceuticals Inc (VTAE) Releases Earnings Results, Beats Expectations By $0.06 EPS

Vitae Pharmaceuticals Inc (VTAE) reported quarterly earnings results on Tuesday, May-10-2016. The company said it had a profit of $-0.44 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $-0.50. The company posted revenue of $.05 million in the period. The company’s revenue was down -66.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.47 EPS.

Many Wall Street Analysts have commented on Vitae Pharmaceuticals Inc. Company shares were Reiterated by Wedbush on Mar 18, 2016 to “Outperform”, Firm has raised the Price Target to $ 23 from a previous price target of $20 .Stifel Upgraded Vitae Pharmaceuticals Inc on Mar 17, 2016 to ” Buy”, Price Target of the shares are set at $15.Vitae Pharmaceuticals Inc was Upgraded by JMP Securities to ” Mkt Outperform” on Mar 17, 2016.

Vitae Pharmaceuticals Inc opened for trading at $6.1 and hit $6.3425 on the upside on Friday, eventually ending the session at $6.27, with a gain of 1.46% or 0.09 points. The heightened volatility saw the trading volume jump to 2,43,509 shares. Company has a market cap of $138 M.

In a different news, on Mar 21, 2016, Donald J Jr Hayden (director) sold 16,130 shares at $7.42 per share price. According to the SEC, on Dec 28, 2015, Jeffrey S. Hatfield (Chief Executive Officer) sold 22,524 shares at $17.00 per share price. On Aug 31, 2015, Arthur Fratamico (Chief Business Officer) purchased 10,000 shares at $7.83 per share price, according to the Form-4 filing with the securities and exchange commission.

Vitae Pharmaceuticals Inc. is a clinical stage biotechnology company focused on discovering and developing small molecule drugs for diseases where there are unmet medical needs. The Company is developing a portfolio of product candidates generated by Contour its structure-based drug discovery platform. The Company has two partnered product candidates in the clinic and several wholly owned drug candidates in preclinical development. The Company’s two partnered product candidates are VTP-34072 which is in a Phase II clinical trial for the treatment of type 2 diabetes and BI 1147560 for the treatment and prevention of Alzheimer’s disease. The Company’s several wholly owned product candidates advancing in preclinical development including VTP-43742 for the treatment of autoimmune disorders VTP-38543 for the treatment of atopic dermatitis and VTP-38443 for the treatment of acute coronary syndrome.

Vitae Pharmaceuticals Inc

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