Zacks Investment Research Upgrades Vanda Pharmaceuticals Inc. (VNDA) to Strong-Buy
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) was upgraded by Zacks Investment Research from a “sell” rating to a “strong-buy” rating in a research note issued on Tuesday. The firm presently has a $18.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.15% from the company’s current price.
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. “
VNDA has been the topic of several other research reports. Jefferies Group LLC reissued a “buy” rating and set a $21.00 target price on shares of Vanda Pharmaceuticals in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. started coverage on Vanda Pharmaceuticals in a report on Wednesday, April 12th. They set an “outperform” rating and a $21.00 price target on the stock. TheStreet upgraded Vanda Pharmaceuticals from a “d+” rating to a “c-” rating in a report on Friday, May 12th. HC Wainwright set a $18.00 price target on Vanda Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Piper Jaffray Companies set a $23.00 price target on Vanda Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 3rd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Vanda Pharmaceuticals has an average rating of “Buy” and an average target price of $21.33.
Shares of Vanda Pharmaceuticals (VNDA) traded down 1.25% during trading on Tuesday, hitting $15.85. The stock had a trading volume of 163,572 shares. The stock’s market cap is $708.78 million. The company’s 50 day moving average price is $15.89 and its 200 day moving average price is $14.60. Vanda Pharmaceuticals has a 12 month low of $11.58 and a 12 month high of $18.00.
Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.18. Vanda Pharmaceuticals had a negative return on equity of 7.88% and a negative net margin of 6.54%. The firm had revenue of $42.06 million for the quarter, compared to analyst estimates of $40.31 million. During the same quarter in the prior year, the company earned $0.01 EPS. Vanda Pharmaceuticals’s revenue was up 16.7% on a year-over-year basis. Equities research analysts expect that Vanda Pharmaceuticals will post ($0.61) earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Vanda Pharmaceuticals by 37.4% in the second quarter. Legal & General Group Plc now owns 11,105 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 3,022 shares during the period. Virginia Retirement Systems ET AL bought a new stake in shares of Vanda Pharmaceuticals during the first quarter valued at $193,000. Capital Fund Management S.A. acquired a new position in Vanda Pharmaceuticals during the first quarter worth approximately $195,000. Dynamic Technology Lab Private Ltd acquired a new position in Vanda Pharmaceuticals during the first quarter worth approximately $196,000. Finally, AQR Capital Management LLC acquired a new position in Vanda Pharmaceuticals during the fourth quarter worth approximately $223,000. Institutional investors own 91.42% of the company’s stock.
About Vanda Pharmaceuticals
Vanda Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies to address unmet medical needs. Its product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051. It offers HETLIOZ for the treatment of Non-24-Hour Sleep-Wake Disorder (Non-24).
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