Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released 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. “

VNDA has been the topic of several other reports. Jefferies Group LLC reissued a “buy” rating and set a $21.00 price objective on shares of Vanda Pharmaceuticals in a research report on Thursday, May 25th. Oppenheimer Holdings, Inc. assumed coverage on shares of Vanda Pharmaceuticals in a research report on Wednesday, April 12th. They set an “outperform” rating and a $21.00 price objective on the stock. TheStreet raised shares of Vanda Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Friday, May 12th. CIBC reissued an “outperform” rating and set a $21.00 price objective on shares of Vanda Pharmaceuticals in a research report on Wednesday, April 12th. Finally, HC Wainwright assumed coverage on shares of Vanda Pharmaceuticals in a research report on Friday, May 26th. They set a “buy” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Vanda Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $21.22.

Vanda Pharmaceuticals (VNDA) opened at 16.2262 on Tuesday. Vanda Pharmaceuticals has a 52-week low of $10.81 and a 52-week high of $18.00. The firm’s market capitalization is $722.91 million. The company’s 50-day moving average is $14.44 and its 200-day moving average is $14.49.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.04. Vanda Pharmaceuticals had a negative net margin of 8.85% and a negative return on equity of 10.42%. The company had revenue of $37.42 million during the quarter, compared to analysts’ expectations of $38.35 million. On average, analysts predict that Vanda Pharmaceuticals will post ($0.70) EPS for the current year.

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Several hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its stake in Vanda Pharmaceuticals by 1,544.3% in the first quarter. Point72 Asset Management L.P. now owns 2,484,500 shares of the biopharmaceutical company’s stock valued at $34,783,000 after buying an additional 2,333,400 shares during the period. FMR LLC boosted its stake in Vanda Pharmaceuticals by 928.0% in the fourth quarter. FMR LLC now owns 996,271 shares of the biopharmaceutical company’s stock valued at $15,891,000 after buying an additional 899,358 shares during the period. Vanguard Group Inc. boosted its stake in Vanda Pharmaceuticals by 26.4% in the first quarter. Vanguard Group Inc. now owns 2,494,347 shares of the biopharmaceutical company’s stock valued at $34,920,000 after buying an additional 521,669 shares during the period. Nexthera Capital LP purchased a new stake in Vanda Pharmaceuticals during the first quarter valued at approximately $7,171,000. Finally, State Street Corp boosted its stake in Vanda Pharmaceuticals by 27.2% in the fourth quarter. State Street Corp now owns 1,751,605 shares of the biopharmaceutical company’s stock valued at $27,935,000 after buying an additional 374,095 shares during the period. Institutional investors own 92.51% 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 therapies to address unmet medical needs. Its product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051. It offers HETLIOZ for the treatment of Non-24-Hour Sleep-Wake Disorder (Non-24).

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Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

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