Vitae Pharmaceuticals Inc (VTAE) is Downgraded by JMP Securities to Mkt Perform

Vitae Pharmaceuticals Inc (VTAE) was Downgraded by JMP Securities to ” Mkt Perform”. Earlier the firm had a rating of “Mkt Outperform ” on the company shares. JMP Securities advised their investors in a research report released on Aug 4, 2016.

On the company’s financial health, Vitae Pharmaceuticals Inc reported $-0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.41.Analysts expectations of $ .01.The company’s revenue was down -98.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.45 EPS.

Vitae Pharmaceuticals Inc closed down -0.36 points or -3.36% at $10.35 with 1,51,170 shares getting traded on Tusday. Post opening the session at $10.61, the shares hit an intraday low of $10.27 and an intraday high of $10.87 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

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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