Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)’s share price dropped 2.4% on Thursday . The stock traded as low as $11.37 and last traded at $11.37, with a volume of 120,602 shares traded. The stock had previously closed at $11.65.

VNDA has been the topic of several recent analyst reports. JMP Securities reduced their target price on Vanda Pharmaceuticals from $30.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 9th. Canaccord Genuity reiterated a “buy” rating and set a $18.00 target price on shares of Vanda Pharmaceuticals in a research report on Monday, March 14th. Brean Capital reiterated a “buy” rating and set a $20.00 target price on shares of Vanda Pharmaceuticals in a research report on Wednesday, April 27th. Jefferies Group reiterated a “buy” rating and set a $15.00 target price on shares of Vanda Pharmaceuticals in a research report on Saturday, May 7th. Finally, Zacks Investment Research downgraded Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $15.92.

The company has a 50 day moving average of $10.77 and a 200 day moving average of $9.07. The stock’s market capitalization is $494.10 million.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.07. The company earned $33.30 million during the quarter, compared to analyst estimates of $32.48 million. The business’s revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. Equities research analysts anticipate that Vanda Pharmaceuticals Inc. will post ($0.83) EPS for the current fiscal year.

An institutional investor recently raised its position in Vanda Pharmaceuticals stock. J. Goldman & Co LP boosted its position in shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) by 20.1% during the fourth quarter, Holdings Channel reports. The fund owned 902,839 shares of the biopharmaceutical company’s stock after buying an additional 151,079 shares during the period. Vanda Pharmaceuticals comprises 0.9% of J. Goldman & Co LP’s portfolio, making the stock its 25th largest position. J. Goldman & Co LP owned 2.11% of Vanda Pharmaceuticals worth $8,405,000 as of its most recent filing with the SEC.

Vanda Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of pharmaceutical products for the treatment of central nervous system (CNS) disorders. The Company’s product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051.

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