Vanda Pharmaceuticals Inc. (VNDA) Stock Rating Lowered by 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 report issued to clients and 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 research analysts also recently issued reports about the stock. Piper Jaffray Cos. set a $16.00 price target on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 18th. Brean Capital reiterated a “buy” rating and issued a $24.00 price target (up from $20.00) on shares of Vanda Pharmaceuticals in a research report on Monday, August 29th. Jefferies Group started coverage on shares of Vanda Pharmaceuticals in a research report on Thursday, October 6th. They issued a “buy” rating and a $23.00 price target on the stock. Finally, JMP Securities increased their price target on shares of Vanda Pharmaceuticals from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Friday, August 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Vanda Pharmaceuticals has an average rating of “Buy” and a consensus target price of $20.00.
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Vanda Pharmaceuticals (NASDAQ:VNDA) traded down 2.031% on Tuesday, hitting $17.272. 539,452 shares of the stock were exchanged. The firm’s market cap is $747.60 million. The company has a 50-day moving average of $15.70 and a 200 day moving average of $11.69. Vanda Pharmaceuticals has a 12 month low of $6.91 and a 12 month high of $18.00.
Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its earnings results on Wednesday, July 27th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.12. Vanda Pharmaceuticals had a negative net margin of 31.85% and a negative return on equity of 22.51%. The company had revenue of $36.02 million for the quarter, compared to analysts’ expectations of $36.03 million. During the same quarter last year, the company posted ($0.13) earnings per share. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. Equities research analysts expect that Vanda Pharmaceuticals will post ($0.61) earnings per share for the current fiscal year.
In other Vanda Pharmaceuticals news, insider James E. Flynn sold 547,886 shares of Vanda Pharmaceuticals stock in a transaction on Monday, September 19th. The shares were sold at an average price of $15.66, for a total value of $8,579,894.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James E. Flynn sold 1,120,461 shares of Vanda Pharmaceuticals stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $16.56, for a total transaction of $18,554,834.16. The disclosure for this sale can be found here. Insiders own 8.45% of the company’s stock.
A number of hedge funds have recently made changes to their positions in VNDA. J. Goldman & Company increased its stake in shares of Vanda Pharmaceuticals by 50.0% in the third quarter. J. Goldman & Company now owns 270,000 shares of the biopharmaceutical company’s stock worth $3,046,000 after buying an additional 90,000 shares in the last quarter. Convector Capital Management LP bought a new stake in shares of Vanda Pharmaceuticals during the fourth quarter worth about $1,196,000. Bank of Montreal Can increased its stake in shares of Vanda Pharmaceuticals by 23.3% in the fourth quarter. Bank of Montreal Can now owns 1,208,918 shares of the biopharmaceutical company’s stock worth $11,255,000 after buying an additional 228,074 shares in the last quarter. J. Goldman & Co LP increased its stake in shares of Vanda Pharmaceuticals by 20.1% in the fourth quarter. J. Goldman & Co LP now owns 902,839 shares of the biopharmaceutical company’s stock worth $8,405,000 after buying an additional 151,079 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Vanda Pharmaceuticals by 260.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 268,633 shares of the biopharmaceutical company’s stock worth $2,501,000 after buying an additional 194,080 shares in the last quarter. Institutional investors own 86.06% of the company’s stock.
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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