Jefferies Group Comments on Vanda Pharmaceuticals Inc.’s Q3 2016 Earnings (VNDA)
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) – Jefferies Group issued their Q3 2016 earnings per share estimates for shares of Vanda Pharmaceuticals in a research note issued to investors on Thursday. Jefferies Group analyst M. Andrews expects that the brokerage will earn ($0.09) per share for the quarter. Jefferies Group has a “Buy” rating and a $23.00 price target on the stock. Jefferies Group also issued estimates for Vanda Pharmaceuticals’ Q4 2016 earnings at ($0.06) EPS, FY2016 earnings at ($0.54) EPS, FY2017 earnings at ($0.08) EPS, FY2018 earnings at $0.93 EPS, FY2019 earnings at $1.30 EPS and FY2020 earnings at $2.10 EPS.
Several other research firms have also weighed in on VNDA. Piper Jaffray Cos. set a $19.00 target price on Vanda Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, October 1st. Brean Capital reissued a “buy” rating and issued a $24.00 target price (up previously from $20.00) on shares of Vanda Pharmaceuticals in a report on Monday, August 29th. JMP Securities upped their target price on Vanda Pharmaceuticals from $18.00 to $22.00 and gave the company a “market outperform” rating in a report on Friday, August 26th. Finally, Zacks Investment Research raised Vanda Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a report on Tuesday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $20.00.
Vanda Pharmaceuticals (NASDAQ:VNDA) opened at 17.63 on Monday. The firm has a 50-day moving average price of $15.70 and a 200 day moving average price of $11.69. Vanda Pharmaceuticals has a 52-week low of $6.91 and a 52-week high of $18.00. The firm’s market capitalization is $763.10 million.
Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.12. The firm earned $36.02 million during the quarter, compared to the consensus estimate of $36.03 million. Vanda Pharmaceuticals had a negative return on equity of 22.51% and a negative net margin of 31.85%. The company’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the company earned ($0.13) EPS.
Several hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC acquired a new position in Vanda Pharmaceuticals during the first quarter valued at $102,000. Bank of Montreal Can acquired a new position in Vanda Pharmaceuticals during the second quarter valued at $132,000. UBS Asset Management Americas Inc. increased its position in 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 valued at $182,000 after buying an additional 1,600 shares during the period. Paloma Partners Management Co acquired a new position in Vanda Pharmaceuticals during the second quarter valued at $192,000. Finally, Jane Street Group LLC acquired a new position in Vanda Pharmaceuticals during the second quarter valued at $200,000. Institutional investors and hedge funds own 86.06% of the company’s stock.
In other news, insider James E. Flynn sold 1,120,461 shares of the company’s stock in a transaction on Friday, September 23rd. The stock was 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 SEC, which is available through this link. Also, insider James E. Flynn sold 547,886 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $15.66, for a total value of $8,579,894.76. The disclosure for this sale can be found here. 8.45% of the stock is owned by insiders.
About Vanda Pharmaceuticals
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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