Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) had its price objective lifted by stock analysts at Piper Jaffray Companies from $23.00 to $26.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 52.49% from the stock’s previous close.

A number of other research firms also recently commented on VNDA. Jefferies Group LLC reiterated a “buy” rating and issued a $21.00 price objective on shares of Vanda Pharmaceuticals in a report on Tuesday, August 29th. Zacks Investment Research downgraded shares of Vanda Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 18th. BidaskClub upgraded shares of Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. HC Wainwright set a $18.00 price objective on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. set a $21.00 price objective on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $21.63.

Shares of Vanda Pharmaceuticals (NASDAQ:VNDA) traded up 1.47% during midday trading on Thursday, hitting $17.25. The stock had a trading volume of 2,056,516 shares. The stock’s market cap is $773.80 million. The firm has a 50 day moving average price of $16.27 and a 200-day moving average price of $15.12. Vanda Pharmaceuticals has a 52-week low of $12.70 and a 52-week high of $18.00.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.18. The company had revenue of $42.06 million during the quarter, compared to the consensus estimate of $40.31 million. Vanda Pharmaceuticals had a negative net margin of 6.54% and a negative return on equity of 7.85%. Vanda Pharmaceuticals’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 EPS. Equities analysts predict that Vanda Pharmaceuticals will post ($0.44) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rice Hall James & Associates LLC increased its holdings in shares of Vanda Pharmaceuticals by 1.0% during the 2nd quarter. Rice Hall James & Associates LLC now owns 27,903 shares of the biopharmaceutical company’s stock worth $455,000 after buying an additional 279 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Vanda Pharmaceuticals by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 45,562 shares of the biopharmaceutical company’s stock worth $638,000 after buying an additional 541 shares during the last quarter. American International Group Inc. increased its holdings in shares of Vanda Pharmaceuticals by 7.1% during the 1st quarter. American International Group Inc. now owns 22,563 shares of the biopharmaceutical company’s stock worth $316,000 after buying an additional 1,491 shares during the last quarter. Strs Ohio increased its holdings in shares of Vanda Pharmaceuticals by 4.6% during the 1st quarter. Strs Ohio now owns 49,600 shares of the biopharmaceutical company’s stock worth $694,000 after buying an additional 2,200 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Vanda Pharmaceuticals by 3.8% during the 2nd quarter. California Public Employees Retirement System now owns 59,600 shares of the biopharmaceutical company’s stock worth $971,000 after buying an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 86.49% of the company’s stock.

Vanda Pharmaceuticals Company Profile

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).

Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

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