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

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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 research analysts also recently issued reports on the company. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $21.00 price objective on shares of Vanda Pharmaceuticals in a research note on Thursday, September 14th. Piper Jaffray Companies upped their price objective on Vanda Pharmaceuticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, September 14th. 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. 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 objective on Vanda Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Vanda Pharmaceuticals has an average rating of “Buy” and an average target price of $21.29.

Vanda Pharmaceuticals (NASDAQ:VNDA) opened at 16.00 on Thursday. The company’s market capitalization is $717.73 million. The company has a 50 day moving average of $17.38 and a 200 day moving average of $15.71. Vanda Pharmaceuticals has a 1-year low of $12.70 and a 1-year high of $18.99.

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, topping the Thomson Reuters’ 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 the consensus estimate of $40.31 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. Vanda Pharmaceuticals’s revenue was up 16.7% compared to the same quarter last year. On average, analysts predict that Vanda Pharmaceuticals will post ($0.43) earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd lifted its position in shares of 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 buying an additional 6,487 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Vanda Pharmaceuticals by 8.2% during the 2nd quarter. California State Teachers Retirement System now owns 78,040 shares of the biopharmaceutical company’s stock valued at $1,272,000 after buying an additional 5,900 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Vanda Pharmaceuticals by 20.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,882 shares of the biopharmaceutical company’s stock valued at $568,000 after buying an additional 5,875 shares during the last quarter. State Street Corp lifted its position in shares of Vanda Pharmaceuticals by 2.9% during the 2nd quarter. State Street Corp now owns 1,618,485 shares of the biopharmaceutical company’s stock valued at $26,380,000 after buying an additional 46,299 shares during the last quarter. Finally, Gotham Asset Management LLC lifted its position in shares of Vanda Pharmaceuticals by 3.6% during the 2nd quarter. Gotham Asset Management LLC now owns 173,923 shares of the biopharmaceutical company’s stock valued at $2,835,000 after buying an additional 5,970 shares during 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).

Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

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