Zacks Investment Research upgraded shares of Vanda Pharmaceuticals (NASDAQ:VNDA) from a sell rating to a hold rating in a research note issued to investors 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. “

Several other equities research analysts have also recently issued reports on VNDA. ValuEngine cut Vanda Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, March 9th. BidaskClub cut Vanda Pharmaceuticals from a sell rating to a strong sell rating in a research note on Tuesday, March 12th. Citigroup cut Vanda Pharmaceuticals from a buy rating to a neutral rating in a research note on Thursday, May 2nd. Finally, Oppenheimer set a $18.00 price objective on Vanda Pharmaceuticals and gave the company a hold rating in a research note on Sunday, May 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $33.63.

VNDA stock opened at $13.82 on Friday. The stock’s fifty day simple moving average is $15.18. The firm has a market capitalization of $744.67 million, a PE ratio of 28.79 and a beta of 0.59. Vanda Pharmaceuticals has a 52-week low of $13.33 and a 52-week high of $33.44.

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

In other news, CEO Mihael Hristos Polymeropoulos sold 72,872 shares of Vanda Pharmaceuticals stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $15.34, for a total value of $1,117,856.48. Following the completion of the sale, the chief executive officer now directly owns 1,276,343 shares of the company’s stock, valued at $19,579,101.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its holdings in Vanda Pharmaceuticals by 66.2% in the fourth quarter. Advisor Group Inc. now owns 2,916 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 1,161 shares during the period. Pearl River Capital LLC boosted its holdings in Vanda Pharmaceuticals by 6,148.0% in the first quarter. Pearl River Capital LLC now owns 6,248 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 6,148 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in Vanda Pharmaceuticals in the first quarter valued at $117,000. Adams Diversified Equity Fund Inc. purchased a new position in Vanda Pharmaceuticals in the first quarter valued at $120,000. Finally, Neuburgh Advisers LLC purchased a new position in Vanda Pharmaceuticals in the fourth quarter valued at $132,000. Hedge funds and other institutional investors own 99.33% of the company’s stock.

About Vanda Pharmaceuticals

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.

Read More: Fundamental Analysis – How It Helps Investors

Get a free copy of the Zacks research report on Vanda Pharmaceuticals (VNDA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

Receive News & Ratings for Vanda Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vanda Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.