BMO Capital Downgrades Vitae Pharmaceuticals Inc to Market Perform

Brokerage firm BMO Capital Downgrades its rating on Vitae Pharmaceuticals Inc(NASDAQ:VTAE). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by BMO Capital was issued on Sep 15, 2016.

In a different note, On Sep 12, 2016, Wedbush said it Downgrades its rating on Vitae Pharmaceuticals Inc. The shares have been rated ‘Neutral’ by the firm. On Aug 4, 2016, JMP Securities said it Downgrades its rating on Vitae Pharmaceuticals Inc. The shares have been rated ‘Market Perform’ by the firm.

Vitae Pharmaceuticals Inc (VTAE) made into the market gainers list on Tuesdays trading session with the shares advancing 0.14% or 0.03 points. Due to strong positive momentum, the stock ended at $20.88, which is also near the day’s high of $20.91. The stock began the session at $20.85 and the volume stood at 8,78,811 shares. The 52-week high of the shares is $20.97 and the 52 week low is $4.08. The company has a current market capitalization of $602 M and it has 2,88,41,067 shares in outstanding.

Vitae Pharmaceuticals Inc(VTAE) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.27K. Analysts had an estimated revenue of $10.00K. Earnings per share were $-0.36. Analysts had estimated an EPS of $-0.41.

Several Insider Transactions has been reported to the SEC. On Mar 21, 2016, Donald J Jr Hayden (director) sold 16,130 shares at $7.42 per share price.Also, 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.

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