Zacks Investment Research Lowers Vanda Pharmaceuticals Inc. (VNDA) to Hold

Zacks Investment Research cut shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) from a buy rating to a hold rating in a report published 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. “

Other analysts have also recently issued reports about the stock. Piper Jaffray Companies set a $23.00 price objective on shares of Vanda Pharmaceuticals and gave the stock a buy rating in a research note on Thursday, August 3rd. HC Wainwright set a $18.00 price objective on shares of Vanda Pharmaceuticals and gave the stock a buy rating in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. set a $21.00 price objective on shares of Vanda Pharmaceuticals and gave the stock a buy rating in a research note on Thursday, August 3rd. Jefferies Group LLC restated a buy rating and issued a $21.00 price objective on shares of Vanda Pharmaceuticals in a research note on Tuesday, August 29th. Finally, BidaskClub upgraded shares of Vanda Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, August 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $21.29.

Vanda Pharmaceuticals (VNDA) remained flat at $16.00 during midday trading on Thursday. The company’s stock had a trading volume of 304,408 shares. Vanda Pharmaceuticals has a 12 month low of $12.70 and a 12 month high of $18.99. The company’s 50 day moving average is $17.38 and its 200 day moving average is $15.71. The stock’s market cap is $717.73 million.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $42.06 million during the quarter, compared to analysts’ expectations of $40.31 million. During the same period in the previous year, the company earned $0.01 earnings per share. Vanda Pharmaceuticals’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, analysts forecast that Vanda Pharmaceuticals will post ($0.43) earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in Vanda Pharmaceuticals by 37.4% during the 2nd quarter. Legal & General Group Plc now owns 11,105 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 3,022 shares during the last quarter. Kopp Investment Advisors LLC acquired a new position in Vanda Pharmaceuticals during the 2nd quarter valued at $196,000. American International Group Inc. raised its stake in Vanda Pharmaceuticals by 7.1% during the 1st 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 during the last quarter. Voya Investment Management LLC raised its stake in Vanda Pharmaceuticals by 29.7% during the 2nd quarter. Voya Investment Management LLC now owns 20,118 shares of the biopharmaceutical company’s stock valued at $328,000 after purchasing an additional 4,605 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its stake in Vanda Pharmaceuticals by 46.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 20,510 shares of the biopharmaceutical company’s stock valued at $335,000 after purchasing an additional 6,487 shares during the last quarter. Hedge funds and other 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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