Vitae Pharmaceuticals Inc (VTAE) is Downgraded by Piper Jaffray to Neutral

Vitae Pharmaceuticals Inc (VTAE) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Sep 20, 2016.

Many Wall Street Analysts have commented on Vitae Pharmaceuticals Inc. Vitae Pharmaceuticals Inc was Downgraded by Wells Fargo to ” Market Perform” on Sep 15, 2016. Vitae Pharmaceuticals Inc was Downgraded by JMP Securities to ” Mkt Perform” 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 opened for trading at $20.85 and hit $20.95 on the upside on Friday, eventually ending the session at $20.95, with a gain of 0.53% or 0.11 points. The heightened volatility saw the trading volume jump to 4,129,196 shares. Company has a market cap of $604 M.

In a different news, on Sep 16, 2016, Jeffrey S. Hatfield (Chief Executive Officer) sold 50,000 shares at $20.81 per share price. According to the SEC, on Mar 21, 2016, Donald J Jr Hayden (director) sold 16,130 shares at $7.42 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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