Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Downgraded by Zacks Investment Research to “Strong Sell”
Zacks Investment Research downgraded shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) from a hold rating to a strong sell rating in a report published on Tuesday morning.
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 firms also recently issued reports on VNDA. HC Wainwright began coverage on shares of Vanda Pharmaceuticals in a research report on Friday, May 26th. They set a buy rating and a $18.00 target price for the company. CIBC restated an outperform rating and set a $21.00 target price on shares of Vanda Pharmaceuticals in a research report on Wednesday, April 12th. Jefferies Group LLC restated a buy rating and set a $21.00 target price on shares of Vanda Pharmaceuticals in a research report on Wednesday, April 12th. TheStreet upgraded shares of Vanda Pharmaceuticals from a d+ rating to a c- rating in a research report on Friday, May 12th. Finally, Piper Jaffray Companies restated an overweight rating and set a $23.00 target price on shares of Vanda Pharmaceuticals in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $21.22.
Vanda Pharmaceuticals (NASDAQ VNDA) traded down 1.376% during trading on Tuesday, hitting $16.125. The stock had a trading volume of 132,040 shares. The firm has a 50 day moving average of $15.25 and a 200-day moving average of $14.52. The stock’s market cap is $718.40 million. Vanda Pharmaceuticals has a 12 month low of $10.81 and a 12 month high of $18.00.
Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.04. The company had revenue of $37.42 million for the quarter, compared to analysts’ expectations of $38.35 million. Vanda Pharmaceuticals had a negative net margin of 8.85% and a negative return on equity of 10.42%. Equities analysts predict that Vanda Pharmaceuticals will post ($0.70) earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Birchview Capital LP increased its position in shares of Vanda Pharmaceuticals by 145.5% in the first quarter. Birchview Capital LP now owns 54,000 shares of the biopharmaceutical company’s stock worth $756,000 after buying an additional 32,000 shares during the period. Capital Fund Management S.A. bought a new position in Vanda Pharmaceuticals during the first quarter valued at $195,000. Algert Global LLC increased its position in Vanda Pharmaceuticals by 11.8% in the first quarter. Algert Global LLC now owns 18,223 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 1,927 shares during the period. Strs Ohio increased its position in Vanda Pharmaceuticals by 4.6% in the first quarter. Strs Ohio now owns 49,600 shares of the biopharmaceutical company’s stock valued at $694,000 after buying an additional 2,200 shares during the period. Finally, Columbus Circle Investors increased its position in Vanda Pharmaceuticals by 6.7% in the first quarter. Columbus Circle Investors now owns 91,049 shares of the biopharmaceutical company’s stock valued at $1,275,000 after buying an additional 5,742 shares during the period. Institutional investors and hedge funds own 92.51% 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).
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