Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.28 and last traded at $16.02, with a volume of 582,200 shares trading hands. The stock had previously closed at $15.55.

VNDA has been the topic of a number of recent analyst reports. Piper Jaffray Cos. set a $16.00 price target on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 18th. Zacks Investment Research raised shares of Vanda Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, August 2nd. Jefferies Group reaffirmed a “buy” rating on shares of Vanda Pharmaceuticals in a report on Friday, June 10th. Brean Capital reaffirmed a “buy” rating and issued a $24.00 price objective (up from $20.00) on shares of Vanda Pharmaceuticals in a report on Monday, August 29th. Finally, JMP Securities upped their price objective on shares of Vanda Pharmaceuticals from $18.00 to $22.00 and gave the company a “market outperform” rating in a report on Friday, August 26th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $18.17.

The stock’s market cap is $692.76 million. The stock has a 50 day moving average price of $12.57 and a 200 day moving average price of $10.11.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.12. During the same quarter in the prior year, the firm earned ($0.13) EPS. The firm earned $36.02 million during the quarter, compared to analysts’ expectations of $36.03 million. The firm’s revenue was up 30.6% compared to the same quarter last year. On average, analysts anticipate that Vanda Pharmaceuticals Inc. will post ($0.61) EPS for the current fiscal year.

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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