Zacks Investment Research downgraded shares of Vanda Pharmaceuticals (NASDAQ:VNDA) from a hold rating to a sell rating in a research note released on Saturday, Zacks.com reports.

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 analysts also recently commented on the company. Oppenheimer set a $18.00 price objective on Vanda Pharmaceuticals and gave the stock a hold rating in a report on Sunday, May 5th. Citigroup downgraded Vanda Pharmaceuticals from a buy rating to a neutral rating in a report on Thursday, May 2nd. ValuEngine downgraded Vanda Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, April 18th. Finally, BidaskClub downgraded Vanda Pharmaceuticals from a sell rating to a strong sell rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Vanda Pharmaceuticals currently has an average rating of Hold and a consensus target price of $33.63.

Shares of VNDA opened at $14.60 on Friday. The firm has a market capitalization of $796.57 million, a price-to-earnings ratio of 30.42 and a beta of 0.58. Vanda Pharmaceuticals has a fifty-two week low of $13.33 and a fifty-two week high of $33.44.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.08). The business had revenue of $47.71 million during the quarter, compared to analyst estimates of $51.74 million. Vanda Pharmaceuticals had a net margin of 10.92% and a return on equity of 8.07%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 earnings per share. Equities research analysts anticipate that Vanda Pharmaceuticals will post 0.06 earnings per share for the current fiscal year.

In other news, CEO Mihael Hristos Polymeropoulos sold 77,225 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $15.56, for a total transaction of $1,201,621.00. Following the completion of the sale, the chief executive officer now directly owns 1,276,343 shares in the company, valued at approximately $19,859,897.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Comerica Bank boosted its position in Vanda Pharmaceuticals by 1.4% during the 1st quarter. Comerica Bank now owns 51,842 shares of the biopharmaceutical company’s stock worth $928,000 after purchasing an additional 725 shares during the period. Piedmont Investment Advisors Inc. boosted its position in Vanda Pharmaceuticals by 5.9% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 13,198 shares of the biopharmaceutical company’s stock worth $243,000 after purchasing an additional 737 shares during the period. Advisor Group Inc. boosted its position in Vanda Pharmaceuticals by 27.3% during the 1st quarter. Advisor Group Inc. now owns 3,712 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 796 shares during the period. Thrivent Financial for Lutherans boosted its position in Vanda Pharmaceuticals by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 37,074 shares of the biopharmaceutical company’s stock worth $969,000 after purchasing an additional 815 shares during the period. Finally, Rhumbline Advisers boosted its position in Vanda Pharmaceuticals by 0.6% during the 1st quarter. Rhumbline Advisers now owns 149,949 shares of the biopharmaceutical company’s stock worth $2,759,000 after purchasing an additional 832 shares during the period. 99.33% of the stock is owned by hedge funds and other institutional investors.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs and improve the lives of patients. The company's marketed products include HETLIOZ (tasimelteon), a product for the treatment of non-24-hour sleep-wake disorders; and Fanapt (iloperidone), a product for the treatment of schizophrenia.

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