Vanda Pharmaceuticals Inc. (VNDA) Receives Consensus Recommendation of “Buy” from Brokerages
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) has been given an average rating of “Buy” by the eleven ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $21.33.
Several analysts have recently weighed in on the stock. HC Wainwright assumed coverage on shares of Vanda Pharmaceuticals in a research note on Friday, May 26th. They set a “buy” rating and a $18.00 price target for the company. Zacks Investment Research raised shares of Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. BidaskClub lowered shares of Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. Piper Jaffray Companies set a $23.00 price objective on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. set a $21.00 price objective on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 3rd.
A number of institutional investors have recently modified their holdings of VNDA. The Manufacturers Life Insurance Company raised its position in shares of Vanda Pharmaceuticals by 20.3% in the second 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 raised its position in Vanda Pharmaceuticals by 2.9% in the second 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 in the last quarter. Gotham Asset Management LLC raised its position in Vanda Pharmaceuticals by 3.6% in the second 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 in the last quarter. Macquarie Group Ltd. raised its position in Vanda Pharmaceuticals by 8.8% in the second quarter. Macquarie Group Ltd. now owns 1,703,559 shares of the biopharmaceutical company’s stock valued at $27,768,000 after buying an additional 138,278 shares in the last quarter. Finally, Stonepine Capital Management LLC raised its position in Vanda Pharmaceuticals by 1,482.2% in the second quarter. Stonepine Capital Management LLC now owns 685,086 shares of the biopharmaceutical company’s stock valued at $11,167,000 after buying an additional 641,786 shares in the last quarter. 90.84% of the stock is currently owned by institutional investors.
Shares of Vanda Pharmaceuticals (NASDAQ VNDA) traded down 0.31% during mid-day trading on Tuesday, hitting $16.05. The stock had a trading volume of 28,255 shares. The stock’s market cap is $719.97 million. The company’s 50 day moving average is $16.17 and its 200-day moving average is $14.74. Vanda Pharmaceuticals has a 52-week low of $11.58 and a 52-week high of $18.00.
Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.18. Vanda Pharmaceuticals had a negative net margin of 6.54% and a negative return on equity of 7.85%. The firm had revenue of $42.06 million during the quarter, compared to the consensus estimate of $40.31 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. On average, equities research analysts anticipate that Vanda Pharmaceuticals will post ($0.52) earnings per share for the current fiscal year.
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About Vanda Pharmaceuticals
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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