Vanda Pharmaceuticals Inc. (VNDA) Coverage Initiated by Analysts at Jefferies Group
Jefferies Group initiated coverage on shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) in a report released on Thursday morning. The firm issued a buy rating on the biopharmaceutical company’s stock.
Several other brokerages have also weighed in on VNDA. Piper Jaffray Cos. set a $19.00 price objective on shares of Vanda Pharmaceuticals and gave the company a buy rating in a research report on Saturday, October 1st. 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 research report on Tuesday, August 2nd. Brean Capital set a $20.00 price objective on shares of Vanda Pharmaceuticals and gave the company a buy rating in a research report on Thursday, July 28th. Finally, JMP Securities increased their price objective on shares of Vanda Pharmaceuticals from $18.00 to $22.00 and gave the company a market outperform rating in a research report on Friday, August 26th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Vanda Pharmaceuticals currently has a consensus rating of Buy and an average target price of $18.67.
Vanda Pharmaceuticals (NASDAQ:VNDA) traded down 2.02% on Thursday, hitting $16.49. 140,855 shares of the stock traded hands. Vanda Pharmaceuticals has a 12-month low of $6.91 and a 12-month high of $18.00. The stock’s market cap is $713.75 million. The stock has a 50-day moving average price of $15.42 and a 200 day moving average price of $11.49.
Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.12. Vanda Pharmaceuticals had a negative net margin of 31.85% and a negative return on equity of 22.51%. The firm had revenue of $36.02 million for the quarter, compared to analyst estimates of $36.03 million. During the same period in the prior year, the firm posted ($0.13) earnings per share. The company’s quarterly revenue was up 30.6% compared to the same quarter last year. On average, equities analysts expect that Vanda Pharmaceuticals will post ($0.61) EPS for the current fiscal year.
In other Vanda Pharmaceuticals news, insider James E. Flynn sold 1,120,461 shares of the stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $16.56, for a total transaction of $18,554,834.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James E. Flynn sold 547,886 shares of the stock in a transaction dated Monday, September 19th. The stock was 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. Company insiders own 8.45% of the company’s stock.
Large investors have recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Vanda Pharmaceuticals during the second quarter worth about $132,000. Acrospire Investment Management LLC purchased a new stake in shares of Vanda Pharmaceuticals during the first quarter worth about $102,000. UBS Asset Management Americas Inc. increased its stake in shares of Vanda Pharmaceuticals by 10.9% in the second quarter. UBS Asset Management Americas Inc. now owns 16,300 shares of the biopharmaceutical company’s stock worth $182,000 after buying an additional 1,600 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Vanda Pharmaceuticals during the second quarter worth about $192,000. Finally, Jane Street Group LLC purchased a new stake in shares of Vanda Pharmaceuticals during the second quarter worth about $200,000. Hedge funds and other institutional investors 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.
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