Vitae Pharmaceuticals Inc (NASDAQ:VTAE) shares edged higher Monday, as BMO Capital Markets initiated coverage of the clinical stage biotechnology company's stock with an outperform rating and a price target of $11 per share. The price target is 76% above the stock's Friday closing price of $6.30. Vitae Pharmaceuticals Inc (NASDAQ:VTAE) shares were up 1.4% at $6.39 in recent trading shortly after Monday's open."Our favorable rating is supported by an efficient structure-based drug design platform, a deep pipeline of highly selective small-molecule drugs across multiple therapeutic categories and several opportunities for proof-of-concept data in 2015," BMO told clients in a note. "With five separate drug development candidates and a balanced mix of partnered assets and proprietary programs, we would highlight VTP-43742 for autoimmune disease and VTP-34072 for metabolic disease as key value drivers for VTAE over the next 12 months"Honeywell International Inc. (NYSE:HON), an aerospace and security technology company, has boosted its 2014 outlook for jet deliveries as part of its annual Business Aviation Outlook and expects 4% average annual industry growth over the next decade. The 2014 Honeywell outlook reflects an approximate 7-8% increase in projected delivery value over the 2013 forecast. Honeywell International Inc. (NYSE:HON) forecasts 2014 deliveries of approximately 650 to 675 new jets, a single-digit increase in percentage growth year over year. The improvement in deliveries expected in 2014 is largely due to program schedule recoveries, new model introductions and additional fractional uptake.The survey found European and Brazilian purchase plan percentages lead all world regions and large-cabin jets account for up to 46% of five-year new purchase plans. The company is forecasting up to 9,450 new business jet deliveries worth $280 billion from 2014 to 2024. "2015 industry deliveries are anticipated to be up modestly again, reflecting momentum from several new model introductions and some gains linked to incremental global economic growth," said Brian Sill, president, Business and General Aviation, Honeywell Aerospace. Shares of HON are at $90.06 within a 52-week range of $82.89 - $98.09.Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Sanofi (SNY) said the first patients have been dosed in a Phase 3 clinical study of dupilumab, an investigational therapy that blocks IL-4 and IL-13 signaling, in adults with moderate-to-severe atopic dermatitis that is not adequately controlled with topical AD medications. LIBERTY AD CHRONOS, the first trial in the Phase 3 clinical program for dupilumab, is a randomized, double-blind, placebo-controlled, multi-national study with the primary objective of demonstrating the efficacy of dupilumab in adults with moderate to severe AD when administered concomitantly with topical corticosteroids through 16 weeks. Secondary objectives of the study will evaluate the long-term safety and efficacy of dupilumab up to 52 weeks. The trial will enroll approximately 700 adult patients. Regeneron Pharmaceuticals Inc (NASDAQ:REGN) trades in a 52-week range of $251.69 to $376.88.
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