Brokerages Anticipate Vanda Pharmaceuticals Inc. (VNDA) Will Announce Quarterly Sales of $44.40 Million
Wall Street brokerages expect Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) to announce $44.40 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Vanda Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $43.80 million and the highest estimate coming in at $45.00 million. Vanda Pharmaceuticals posted sales of $38.48 million during the same quarter last year, which suggests a positive year over year growth rate of 15.4%. The firm is scheduled to announce its next earnings results on Wednesday, November 1st.
On average, analysts expect that Vanda Pharmaceuticals will report full year sales of $44.40 million for the current financial year, with estimates ranging from $168.70 million to $172.00 million. For the next year, analysts expect that the firm will report sales of $205.70 million per share, with estimates ranging from $194.00 million to $217.40 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Vanda Pharmaceuticals.
Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.18. Vanda Pharmaceuticals had a negative net margin of 6.54% and a negative return on equity of 7.85%. The company had revenue of $42.06 million for the quarter, compared to analysts’ expectations of $40.31 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. Vanda Pharmaceuticals’s quarterly revenue was up 16.7% on a year-over-year basis.
VNDA has been the topic of a number of research reports. Piper Jaffray Companies reissued an “overweight” rating and set a $23.00 target price on shares of Vanda Pharmaceuticals in a research report on Tuesday, June 27th. Zacks Investment Research downgraded shares of Vanda Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. set a $21.00 target price on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 3rd. HC Wainwright set a $18.00 target price on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $21.29.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Vanda Pharmaceuticals by 7.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,680,895 shares of the biopharmaceutical company’s stock worth $43,698,000 after buying an additional 186,548 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Vanda Pharmaceuticals by 1,544.3% in the 1st quarter. Point72 Asset Management L.P. now owns 2,484,500 shares of the biopharmaceutical company’s stock worth $34,783,000 after buying an additional 2,333,400 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of Vanda Pharmaceuticals by 8.8% in the 2nd quarter. Macquarie Group Ltd. now owns 1,703,559 shares of the biopharmaceutical company’s stock worth $27,768,000 after buying an additional 138,278 shares during the last quarter. State Street Corp grew its position in shares of Vanda Pharmaceuticals by 2.9% in the 2nd quarter. State Street Corp now owns 1,618,485 shares of the biopharmaceutical company’s stock worth $26,380,000 after buying an additional 46,299 shares during the last quarter. Finally, FMR LLC grew its position in shares of Vanda Pharmaceuticals by 60.7% in the 1st quarter. FMR LLC now owns 1,601,171 shares of the biopharmaceutical company’s stock worth $22,416,000 after buying an additional 604,900 shares during the last quarter. 86.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Vanda Pharmaceuticals (NASDAQ:VNDA) traded down 1.79% during trading on Wednesday, hitting $16.50. 87,650 shares of the company traded hands. The company has a 50 day moving average price of $17.45 and a 200 day moving average price of $15.62. Vanda Pharmaceuticals has a 52 week low of $12.70 and a 52 week high of $18.99. The company’s market capitalization is $740.16 million.
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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