Vanda Pharmaceuticals (NASDAQ:VNDA) Rating Lowered to “Strong Sell” at Zacks Research

Vanda Pharmaceuticals (NASDAQ:VNDA) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

A number of other brokerages also recently issued reports on VNDA. Weiss Ratings reissued a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research report on Friday, July 17th. Oppenheimer assumed coverage on Vanda Pharmaceuticals in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $10.00 price objective for the company. B. Riley Financial reiterated a “buy” rating and set a $12.00 target price (down from $17.00) on shares of Vanda Pharmaceuticals in a research report on Monday, August 10th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Vanda Pharmaceuticals in a report on Monday. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Vanda Pharmaceuticals currently has an average rating of “Hold” and an average target price of $13.08.

Vanda Pharmaceuticals Price Performance

Shares of Vanda Pharmaceuticals stock opened at $4.56 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $275.70 million, a price-to-earnings ratio of -0.98 and a beta of 0.69. Vanda Pharmaceuticals has a twelve month low of $4.27 and a twelve month high of $9.94. The company has a 50-day simple moving average of $5.15 and a two-hundred day simple moving average of $5.94.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.46). Vanda Pharmaceuticals had a negative return on equity of 49.81% and a negative net margin of 127.41%.The business had revenue of $50.53 million for the quarter, compared to analyst estimates of $61.92 million. Analysts forecast that Vanda Pharmaceuticals will post -3.02 EPS for the current year.

Institutional Trading of Vanda Pharmaceuticals

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Vanda Pharmaceuticals during the 2nd quarter worth $46,841,000. Monaco Asset Management SAM acquired a new stake in Vanda Pharmaceuticals in the second quarter valued at about $1,354,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Vanda Pharmaceuticals in the second quarter valued at about $1,317,000. State Street Corp grew its position in Vanda Pharmaceuticals by 16.6% in the second quarter. State Street Corp now owns 3,516,405 shares of the biopharmaceutical company’s stock valued at $21,520,000 after acquiring an additional 500,843 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Vanda Pharmaceuticals in the first quarter valued at about $1,668,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing therapies for disorders of the central nervous system. The company was founded in 2003 and is headquartered in Washington, DC Its work centers on conditions involving sleep, circadian rhythms, and psychiatric health.

Vanda’s commercial products include Hetlioz (tasimelteon), a melatonin receptor agonist approved in the United States for Non-24-Hour Sleep-Wake Disorder and Smith-Magenis Syndrome, and Fanapt (iloperidone), an atypical antipsychotic used to treat schizophrenia in adults.