Vanda Pharmaceuticals (VNDA) Earns Buy Rating from Analysts at Seaport Global Securities

Equities researchers at Seaport Global Securities initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a report issued on Friday, MarketBeat reports. The firm set a “buy” rating and a $20.00 price target on the biopharmaceutical company’s stock. Seaport Global Securities’ target price indicates a potential upside of 37.93% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Oppenheimer restated a “buy” rating on shares of Vanda Pharmaceuticals in a research report on Monday, January 8th. BidaskClub upgraded shares of Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. ValuEngine upgraded shares of Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research downgraded shares of Vanda Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Piper Jaffray Companies set a $26.00 price target on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $21.29.

Vanda Pharmaceuticals (NASDAQ VNDA) traded up $0.25 on Friday, hitting $14.50. 328,764 shares of the company traded hands, compared to its average volume of 421,295. Vanda Pharmaceuticals has a 52-week low of $11.90 and a 52-week high of $18.99. The firm has a market cap of $640.22, a P/E ratio of -46.77 and a beta of 1.29.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). Vanda Pharmaceuticals had a negative net margin of 11.01% and a negative return on equity of 13.94%. The firm had revenue of $41.30 million during the quarter, compared to the consensus estimate of $43.90 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. analysts predict that Vanda Pharmaceuticals will post -0.44 earnings per share for the current year.

In other news, CFO James Patrick Kelly sold 9,155 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $15.35, for a total value of $140,529.25. Following the completion of the sale, the chief financial officer now owns 144,721 shares of the company’s stock, valued at approximately $2,221,467.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mihael Hristos Polymeropoulos sold 191,760 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $15.30, for a total transaction of $2,933,928.00. Following the completion of the sale, the insider now directly owns 1,031,848 shares of the company’s stock, valued at approximately $15,787,274.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,483 shares of company stock valued at $3,205,205. 7.60% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System grew its stake in shares of Vanda Pharmaceuticals by 3.8% in the 2nd quarter. California Public Employees Retirement System now owns 59,600 shares of the biopharmaceutical company’s stock valued at $971,000 after buying an additional 2,200 shares during the period. Legal & General Group Plc grew its stake in shares of Vanda Pharmaceuticals by 37.4% in the 2nd quarter. Legal & General Group Plc now owns 11,105 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 3,022 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Vanda Pharmaceuticals by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 199,578 shares of the biopharmaceutical company’s stock valued at $3,573,000 after buying an additional 3,305 shares during the period. Voya Investment Management LLC grew its stake in shares of Vanda Pharmaceuticals by 29.7% in the 2nd quarter. Voya Investment Management LLC now owns 20,118 shares of the biopharmaceutical company’s stock valued at $328,000 after buying an additional 4,605 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Vanda Pharmaceuticals by 1.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 318,788 shares of the biopharmaceutical company’s stock valued at $5,196,000 after buying an additional 4,986 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

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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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