Vanda Pharmaceuticals (NASDAQ:VNDA) Downgraded to “Hold” at Zacks Investment Research

Vanda Pharmaceuticals (NASDAQ:VNDA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday, Zacks.com reports.

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. “

Several other equities research analysts also recently weighed in on VNDA. ValuEngine downgraded shares of Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Citigroup downgraded shares of Vanda Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Thursday, November 7th. Stifel Nicolaus reissued a “hold” rating and set a $17.00 price target on shares of Vanda Pharmaceuticals in a research report on Thursday, November 7th. Finally, BidaskClub raised shares of Vanda Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Vanda Pharmaceuticals presently has an average rating of “Hold” and an average target price of $26.71.

Shares of Vanda Pharmaceuticals stock traded down $0.04 during trading on Friday, reaching $15.45. 448,200 shares of the stock were exchanged, compared to its average volume of 552,517. The firm has a market cap of $798.99 million, a price-to-earnings ratio of 32.19 and a beta of 0.29. The stock’s fifty day moving average is $13.70 and its 200 day moving average is $14.30. Vanda Pharmaceuticals has a 1 year low of $11.83 and a 1 year high of $33.44.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $1.77. The company had revenue of $59.49 million during the quarter, compared to the consensus estimate of $58.33 million. Vanda Pharmaceuticals had a net margin of 55.49% and a return on equity of 38.90%. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. On average, analysts predict that Vanda Pharmaceuticals will post 2.16 earnings per share for the current year.

In related news, Director Richard W. Dugan sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $14.85, for a total value of $222,750.00. Following the sale, the director now owns 50,770 shares in the company, valued at $753,934.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.20% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. boosted its holdings in Vanda Pharmaceuticals by 32.0% in the third quarter. Alps Advisors Inc. now owns 26,782 shares of the biopharmaceutical company’s stock worth $356,000 after purchasing an additional 6,498 shares during the last quarter. Strs Ohio boosted its holdings in Vanda Pharmaceuticals by 19.5% in the second quarter. Strs Ohio now owns 50,800 shares of the biopharmaceutical company’s stock worth $715,000 after purchasing an additional 8,300 shares during the last quarter. Rhumbline Advisers boosted its holdings in Vanda Pharmaceuticals by 3.1% in the third quarter. Rhumbline Advisers now owns 163,597 shares of the biopharmaceutical company’s stock worth $2,173,000 after purchasing an additional 4,995 shares during the last quarter. Stonepine Capital Management LLC boosted its holdings in Vanda Pharmaceuticals by 6.5% in the second quarter. Stonepine Capital Management LLC now owns 1,341,943 shares of the biopharmaceutical company’s stock worth $18,908,000 after purchasing an additional 81,655 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Vanda Pharmaceuticals by 4.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 454,759 shares of the biopharmaceutical company’s stock worth $6,408,000 after purchasing an additional 18,447 shares during the last quarter.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs and improve the lives of patients. The company's marketed products include HETLIOZ (tasimelteon), a product for the treatment of non-24-hour sleep-wake disorders; and Fanapt (iloperidone), a product for the treatment of schizophrenia.

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