Multiple Analysts Bullish On Vitae Pharmaceuticals Following End Of Lock-Up Period

Shares of Vitae Pharmaceuticals Inc VTAE are up sharply in Monday’s session following the sell-side lock-up expiration.

Amid the expiration, multiple analysts initiated coverage on shares of Vitae:

• JMP Securities: Market Outperform rating; $15 price target.
• Stifel Nicolaus Buy rating; $14 price target. Brian Klein stated, “Vitae’s unique technology platform encompasses the unique ability to rationally design clinical candidates and represents the principal competitive advantage of the company.”
• BMO Capital: Outperform rating; $11 price target.
• EVA Dimensions: Hold rating.

Share of Vitae Pharmaceuticals recently traded at $6.99, up 10.9 percent.