Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

Several other research analysts have also weighed in on VNDA. Oppenheimer Holdings, Inc. set a $21.00 price objective on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 3rd. BidaskClub lowered shares of Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. HC Wainwright set a $18.00 price target on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Piper Jaffray Companies set a $23.00 price target on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC restated a “buy” rating and set a $21.00 price target on shares of Vanda Pharmaceuticals in a research note on Tuesday, August 29th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Vanda Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $21.63.

Vanda Pharmaceuticals (NASDAQ VNDA) opened at 18.00 on Thursday. Vanda Pharmaceuticals has a 12-month low of $12.70 and a 12-month high of $18.99. The firm’s market cap is $807.44 million. The company’s 50 day moving average is $17.34 and its 200 day moving average is $15.52.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.18. The firm had revenue of $42.06 million for the quarter, compared to analyst estimates of $40.31 million. Vanda Pharmaceuticals had a negative net margin of 6.54% and a negative return on equity of 7.85%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS. On average, equities analysts anticipate that Vanda Pharmaceuticals will post ($0.42) earnings per share for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. Rice Hall James & Associates LLC increased its stake 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 purchasing an additional 279 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake 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 purchasing an additional 541 shares during the last quarter. American International Group Inc. increased its stake 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 purchasing an additional 1,491 shares during the last quarter. California Public Employees Retirement System increased its stake 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 purchasing an additional 2,200 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Vanda Pharmaceuticals by 37.4% during the 2nd quarter. Legal & General Group Plc now owns 11,105 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 3,022 shares during the last quarter. Institutional investors own 86.49% 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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