Vanda Pharmaceuticals Inc. (VNDA) Sees Strong Trading Volume After Analyst Upgrade
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) shares saw unusually-strong trading volume on Thursday after Piper Jaffray Companies raised their price target on the stock from $23.00 to $26.00. Piper Jaffray Companies currently has an overweight rating on the stock. Approximately 2,621,465 shares were traded during mid-day trading, an increase of 459% from the previous session’s volume of 468,681 shares.The stock last traded at $17.73 and had previously closed at $17.00.
VNDA has been the topic of a number of other reports. Zacks Investment Research lowered shares of Vanda Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 18th. Jefferies Group LLC restated a “buy” rating and issued a $21.00 price target on shares of Vanda Pharmaceuticals in a research report on Tuesday, August 29th. HC Wainwright set a $18.00 price target on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. set a $21.00 price target on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.63.
Several institutional investors have recently modified their holdings of VNDA. Legal & General Group Plc boosted its position in shares of Vanda Pharmaceuticals by 37.4% during the 2nd quarter. Legal & General Group Plc now owns 11,105 shares of the biopharmaceutical company’s stock valued at $181,000 after acquiring an additional 3,022 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in Vanda Pharmaceuticals during the 1st quarter valued at about $193,000. Capital Fund Management S.A. bought a new position in Vanda Pharmaceuticals during the 1st quarter valued at about $195,000. Dynamic Technology Lab Private Ltd bought a new position in Vanda Pharmaceuticals during the 1st quarter valued at about $196,000. Finally, Kopp Investment Advisors LLC bought a new position in Vanda Pharmaceuticals during the 2nd quarter valued at about $196,000. Institutional investors and hedge funds own 86.49% of the company’s stock.
The stock’s 50-day moving average is $16.42 and its 200 day moving average is $15.18. The stock’s market capitalization is $825.39 million.
Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.18. The business had revenue of $42.06 million for the quarter, compared to the consensus estimate of $40.31 million. Vanda Pharmaceuticals had a negative net margin of 6.54% and a negative return on equity of 7.85%. Vanda Pharmaceuticals’s revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 earnings per share. On average, analysts predict that Vanda Pharmaceuticals Inc. will post ($0.44) earnings per share for the current fiscal year.
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Vanda Pharmaceuticals Company Profile
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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