Zacks Investment Research Lowers Vanda Pharmaceuticals (VNDA) to Hold

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Zacks Investment Research lowered shares of Vanda Pharmaceuticals (NASDAQ:VNDA) from a buy rating to a hold rating in a research note released on Wednesday.

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 research firms have also recently issued reports on VNDA. Cantor Fitzgerald reissued a hold rating and set a $26.00 price target on shares of Vanda Pharmaceuticals in a report on Wednesday, October 3rd. Oppenheimer set a $29.00 price target on shares of Vanda Pharmaceuticals and gave the stock a buy rating in a report on Wednesday, October 3rd. Citigroup increased their price target on shares of Vanda Pharmaceuticals from $27.00 to $31.00 and gave the stock a buy rating in a report on Tuesday, October 16th. Seaport Global Securities reissued a buy rating and set a $26.00 price target on shares of Vanda Pharmaceuticals in a report on Thursday, August 2nd. Finally, TheStreet raised shares of Vanda Pharmaceuticals from a c rating to a b- rating in a report on Friday, October 26th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $27.43.

NASDAQ VNDA traded up $0.35 during trading hours on Wednesday, hitting $23.81. 722,224 shares of the stock were exchanged, compared to its average volume of 608,696. The stock has a market capitalization of $1.07 billion, a P/E ratio of -68.03 and a beta of 1.06. Vanda Pharmaceuticals has a 12-month low of $11.90 and a 12-month high of $25.07.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.18. The firm had revenue of $49.13 million during the quarter, compared to analysts’ expectations of $49.44 million. Vanda Pharmaceuticals had a net margin of 7.06% and a return on equity of 6.26%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share. On average, equities research analysts predict that Vanda Pharmaceuticals will post -0.04 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of VNDA. Russell Investments Group Ltd. grew its position in Vanda Pharmaceuticals by 665.9% during the first quarter. Russell Investments Group Ltd. now owns 44,065 shares of the biopharmaceutical company’s stock worth $742,000 after buying an additional 38,312 shares during the period. UBS Group AG grew its position in Vanda Pharmaceuticals by 35.9% during the first quarter. UBS Group AG now owns 84,739 shares of the biopharmaceutical company’s stock worth $1,428,000 after buying an additional 22,382 shares during the period. Allianz Asset Management GmbH grew its position in Vanda Pharmaceuticals by 2.9% during the first quarter. Allianz Asset Management GmbH now owns 136,218 shares of the biopharmaceutical company’s stock worth $2,295,000 after buying an additional 3,903 shares during the period. Xact Kapitalforvaltning AB acquired a new position in Vanda Pharmaceuticals during the second quarter worth about $240,000. Finally, Fox Run Management L.L.C. grew its position in Vanda Pharmaceuticals by 23.9% during the second quarter. Fox Run Management L.L.C. now owns 28,611 shares of the biopharmaceutical company’s stock worth $545,000 after buying an additional 5,516 shares during the period. Institutional investors own 93.92% of the company’s stock.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system disorders. 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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