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

A number of other equities research analysts have also issued reports on the company. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $21.00 price target on shares of Vanda Pharmaceuticals in a research note on Thursday, September 14th. Piper Jaffray Companies increased their price target on Vanda Pharmaceuticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, September 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $21.00 price target on shares of Vanda Pharmaceuticals in a research note on Tuesday, August 29th. BidaskClub upgraded Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, HC Wainwright set a $18.00 price target on Vanda Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Vanda Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $21.29.

Vanda Pharmaceuticals (VNDA) traded up 0.62% during trading on Thursday, reaching $16.35. The company had a trading volume of 33,900 shares. The firm’s market capitalization is $733.43 million. The firm’s 50-day moving average price is $17.46 and its 200 day moving average price is $15.62. Vanda Pharmaceuticals has a one year low of $12.70 and a one year high of $18.99.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.18. Vanda Pharmaceuticals had a negative return on equity of 7.85% and a negative net margin of 6.54%. The business had revenue of $42.06 million during the quarter, compared to analyst estimates of $40.31 million. During the same quarter in the prior year, the business posted $0.01 EPS. Vanda Pharmaceuticals’s revenue for the quarter was up 16.7% compared to the same quarter last year. Equities analysts forecast that Vanda Pharmaceuticals will post ($0.43) earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of VNDA. Prudential Financial Inc. grew its position in shares of Vanda Pharmaceuticals by 0.8% during the first quarter. Prudential Financial Inc. now owns 614,318 shares of the biopharmaceutical company’s stock valued at $8,600,000 after purchasing an additional 4,700 shares in the last quarter. American International Group Inc. grew its position in shares of Vanda Pharmaceuticals by 7.1% during the first quarter. American International Group Inc. now owns 22,563 shares of the biopharmaceutical company’s stock valued at $316,000 after purchasing an additional 1,491 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Vanda Pharmaceuticals during the first quarter valued at about $196,000. FMR LLC grew its position in shares of Vanda Pharmaceuticals by 60.7% during the first quarter. FMR LLC now owns 1,601,171 shares of the biopharmaceutical company’s stock valued at $22,416,000 after purchasing an additional 604,900 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in shares of Vanda Pharmaceuticals by 1.0% during the first quarter. Teachers Advisors LLC now owns 535,861 shares of the biopharmaceutical company’s stock valued at $7,502,000 after purchasing an additional 5,180 shares in the last quarter. Hedge funds and other institutional investors 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).

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Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

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