Vanda Pharmaceuticals Inc. (VNDA) Cut to Hold at Zacks Investment Research
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of clinical-stage product candidates for central nervous system disorders. It is developing important new medicines to improve the lives of patients. It uses new technologies, including genetics & genomics, to inform our drug discovery, our clinical trials, and our commercial positioning of our compounds. The Company has three product candidates in clinical development. It’s lead product candidate, iloperidone, is a compound for the treatment of schizophrenia & bipolar disorder & is in a Phase III clinical trial for schizophrenia. It’s second product candidate, is a compound for the treatment of insomnia & depression which is currently in a Phase III clinical trial for insomnia. It’s third product candidate, is a compound for the treatment of excessive sleepiness & is ready for a Phase II clinical trial. “
Other equities analysts have also recently issued research reports about the company. Brean Capital set a $24.00 target price on Vanda Pharmaceuticals and gave the company a “buy” rating in a research note on Monday. Piper Jaffray Cos. set a $19.00 target price on Vanda Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, October 1st. Jefferies Group began coverage on Vanda Pharmaceuticals in a research note on Thursday, October 6th. They set a “buy” rating and a $23.00 target price on the stock. Finally, JMP Securities boosted their price target on Vanda Pharmaceuticals from $18.00 to $22.00 and gave the company a “market outperform” rating in a research note on Friday, August 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Vanda Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $20.00.
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Shares of Vanda Pharmaceuticals (NASDAQ:VNDA) traded down 2.10% during mid-day trading on Tuesday, hitting $17.26. 543,930 shares of the company were exchanged. Vanda Pharmaceuticals has a 12-month low of $6.91 and a 12-month high of $18.00. The stock’s market cap is $747.08 million. The stock’s 50-day moving average price is $15.70 and its 200 day moving average price is $11.69.
Vanda Pharmaceuticals (NASDAQ:VNDA) last released its earnings results on Wednesday, July 27th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.12. Vanda Pharmaceuticals had a negative return on equity of 22.51% and a negative net margin of 31.85%. The company had revenue of $36.02 million for the quarter, compared to analysts’ expectations of $36.03 million. During the same quarter in the previous year, the business posted ($0.13) EPS. The business’s revenue for the quarter was up 30.6% on a year-over-year basis. On average, equities analysts anticipate that Vanda Pharmaceuticals will post ($0.61) EPS for the current fiscal year.
In related news, insider James E. Flynn sold 547,886 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $15.66, for a total value of $8,579,894.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James E. Flynn sold 1,120,461 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $16.56, for a total value of $18,554,834.16. The disclosure for this sale can be found here. 8.45% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Acrospire Investment Management LLC bought a new stake in shares of Vanda Pharmaceuticals during the first quarter worth about $102,000. Sphera Funds Management LTD. boosted its stake in shares of Vanda Pharmaceuticals by 10.8% in the first quarter. Sphera Funds Management LTD. now owns 512,051 shares of the biopharmaceutical company’s stock worth $4,281,000 after buying an additional 50,000 shares during the last quarter. Amici Capital LLC bought a new stake in shares of Vanda Pharmaceuticals during the first quarter worth about $418,000. BNP Paribas Arbitrage SA boosted its stake in shares of Vanda Pharmaceuticals by 3.4% in the second quarter. BNP Paribas Arbitrage SA now owns 43,511 shares of the biopharmaceutical company’s stock worth $487,000 after buying an additional 1,411 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Vanda Pharmaceuticals by 1,243.1% in the second quarter. Acadian Asset Management LLC now owns 149,689 shares of the biopharmaceutical company’s stock worth $1,675,000 after buying an additional 138,544 shares during the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.
About Vanda Pharmaceuticals
Vanda Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of pharmaceutical products for the treatment of central nervous system (CNS) disorders. The Company’s product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051.
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