Trading Report: The Zacks Investment Research Downgrades Vanda Pharmaceuticals Inc. (VNDA) to Hold

The 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 research note issued to investors on Tuesday.

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 research analysts also recently issued research reports about the stock. Piper Jaffray Cos. set a $16.00 price objective on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 18th. Brean Capital set a $20.00 price objective on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, July 28th. Jefferies Group started coverage on shares of Vanda Pharmaceuticals in a report on Thursday, October 6th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, JMP Securities upped their price objective on shares of Vanda Pharmaceuticals from $18.00 to $22.00 and gave the stock a “market outperform” rating in a report on Friday, August 26th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.00.

Shares of Vanda Pharmaceuticals (NASDAQ:VNDA) opened at 17.14 on Tuesday. The firm has a 50-day moving average of $15.98 and a 200-day moving average of $11.77. Vanda Pharmaceuticals has a 12-month low of $6.91 and a 12-month high of $18.00. The company’s market cap is $741.89 million.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.12. Vanda Pharmaceuticals had a negative net margin of 31.85% and a negative return on equity of 22.51%. The firm had revenue of $36.02 million for the quarter, compared to the consensus estimate of $36.03 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The business’s revenue was up 30.6% on a year-over-year basis. Analysts predict that Vanda Pharmaceuticals will post ($0.61) EPS for the current year.

In other news, insider James E. Flynn sold 1,120,461 shares of the stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $16.56, for a total value of $18,554,834.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James E. Flynn sold 547,886 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $15.66, for a total transaction of $8,579,894.76. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. increased its stake in Vanda Pharmaceuticals by 24.6% in the second quarter. Macquarie Group Ltd. now owns 1,532,533 shares of the biopharmaceutical company’s stock worth $17,149,000 after buying an additional 302,591 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Vanda Pharmaceuticals by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 313,088 shares of the biopharmaceutical company’s stock worth $3,504,000 after buying an additional 12,909 shares during the period. Palo Alto Investors LLC increased its stake in Vanda Pharmaceuticals by 4.8% in the second quarter. Palo Alto Investors LLC now owns 4,225,608 shares of the biopharmaceutical company’s stock worth $47,285,000 after buying an additional 194,700 shares during the period. Numeric Investors LLC increased its stake in Vanda Pharmaceuticals by 197.9% in the second quarter. Numeric Investors LLC now owns 42,900 shares of the biopharmaceutical company’s stock worth $480,000 after buying an additional 28,500 shares during the period. Finally, Jane Street Group LLC bought a new stake in Vanda Pharmaceuticals during the second quarter worth about $200,000. Institutional investors and hedge funds own 86.06% 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 pharmaceutical products for the treatment of central nervous system (CNS) disorders. The Company’s product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051.

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