Jefferies Group Begins Coverage on Vanda Pharmaceuticals Inc. (VNDA)
Jefferies Group initiated coverage on shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) in a research report released on Thursday morning. The brokerage issued a buy rating and a $23.00 price target on the biopharmaceutical company’s stock.
A number of other analysts have also recently weighed in on VNDA. Zacks Investment Research cut shares of Vanda Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, July 6th. Piper Jaffray Cos. restated a buy rating and set a $16.00 target price on shares of Vanda Pharmaceuticals in a report on Thursday, July 28th. Brean Capital set a $20.00 target price on shares of Vanda Pharmaceuticals and gave the stock a buy rating in a report on Thursday, July 28th. Finally, JMP Securities raised their target price on shares of Vanda Pharmaceuticals from $18.00 to $22.00 and gave the stock a market outperform rating in a report on Friday, August 26th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Vanda Pharmaceuticals has a consensus rating of Buy and a consensus price target of $20.00.
Shares of Vanda Pharmaceuticals (NASDAQ:VNDA) opened at 17.63 on Thursday. The stock’s 50 day moving average is $15.70 and its 200 day moving average is $11.69. The stock’s market capitalization is $763.10 million. Vanda Pharmaceuticals has a 52 week low of $6.91 and a 52 week high of $18.00.
Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its earnings results on Wednesday, July 27th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.12. The firm earned $36.02 million during the quarter, compared to analysts’ expectations of $36.03 million. Vanda Pharmaceuticals had a negative net margin of 31.85% and a negative return on equity of 22.51%. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) earnings per share. Analysts anticipate that Vanda Pharmaceuticals will post ($0.61) EPS for the current fiscal year.
In related news, insider James E. Flynn sold 1,120,461 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $16.56, for a total value of $18,554,834.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James E. Flynn sold 547,886 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $15.66, for a total transaction of $8,579,894.76. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Acrospire Investment Management LLC bought a new stake in Vanda Pharmaceuticals during the first quarter worth about $102,000. Geode Capital Management LLC increased its stake in Vanda Pharmaceuticals by 9.2% in the first quarter. Geode Capital Management LLC now owns 379,671 shares of the biopharmaceutical company’s stock worth $3,173,000 after buying an additional 31,939 shares during the last quarter. Sphera Funds Management LTD. increased its stake in Vanda Pharmaceuticals by 10.8% in the first quarter. Sphera Funds Management LTD. now owns 512,051 shares of the biopharmaceutical company’s stock worth $4,281,000 after buying an additional 50,000 shares during the last quarter. Amici Capital LLC bought a new stake in Vanda Pharmaceuticals during the first quarter worth about $418,000. Finally, BNP Paribas Arbitrage SA increased its stake in Vanda Pharmaceuticals by 3.4% in the second quarter. BNP Paribas Arbitrage SA now owns 43,511 shares of the biopharmaceutical company’s stock worth $487,000 after buying an additional 1,411 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.
Vanda Pharmaceuticals Company Profile
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.
Receive News & Ratings for Vanda Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vanda Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.