Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) has been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the stock. Seven investment analysts have rated the stock with a hold recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $21.67.

Several research analysts have recently commented on VTAE shares. Wells Fargo & Co. cut shares of Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Sunday, September 11th. BMO Capital Markets cut shares of Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $17.00 to $21.00 in a report on Thursday, September 15th. Wedbush reaffirmed an “outperform” rating and set a $23.00 target price on shares of Vitae Pharmaceuticals in a report on Wednesday, August 3rd. Piper Jaffray Cos. cut shares of Vitae Pharmaceuticals from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 20th. Finally, Stifel Nicolaus cut shares of Vitae Pharmaceuticals from a “buy” rating to a “hold” rating and set a $21.00 price objective on the stock. in a research note on Wednesday, September 14th.

In other Vitae Pharmaceuticals news, major shareholder Adage Capital Partners Gp, L.L sold 1,025,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $20.85, for a total value of $21,371,250.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey S. Hatfield sold 50,000 shares of the firm’s 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 owns 244,996 shares in the company, valued at approximately $5,098,366.76. The disclosure for this sale can be found here. 14.80% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of VTAE. BlackRock Advisors LLC raised its stake in shares of Vitae Pharmaceuticals by 73.8% in the second quarter. BlackRock Advisors LLC now owns 10,078 shares of the company’s stock worth $109,000 after buying an additional 4,280 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Vitae Pharmaceuticals during the second quarter worth $119,000. TFS Capital LLC bought a new stake in shares of Vitae Pharmaceuticals during the second quarter worth $126,000. Alliancebernstein L.P. bought a new stake in shares of Vitae Pharmaceuticals during the second quarter worth $140,000. Finally, American International Group Inc. raised its stake in shares of Vitae Pharmaceuticals by 94.9% in the second quarter. American International Group Inc. now owns 15,136 shares of the company’s stock worth $163,000 after buying an additional 7,368 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Shares of Vitae Pharmaceuticals (NASDAQ:VTAE) opened at 21.00 on Tuesday. The firm’s 50 day moving average is $0.00 and its 200 day moving average is $0.00.

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.

5 Day Chart for NASDAQ:VTAE

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