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.

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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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Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

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