Zacks Investment Research cut shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

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 a number of other research reports. JMP Securities boosted 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. Brean Capital restated a buy rating and issued a $24.00 price objective (up previously from $20.00) on shares of Vanda Pharmaceuticals in a research report on Monday, August 29th. Jefferies Group started coverage on shares of Vanda Pharmaceuticals in a research report on Thursday, October 6th. They issued a buy rating and a $23.00 price objective on the stock. Finally, Piper Jaffray Cos. restated a buy rating and issued a $16.00 price objective on shares of Vanda Pharmaceuticals in a research report on Thursday, July 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $20.00.

Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

Shares of Vanda Pharmaceuticals (NASDAQ:VNDA) opened at 17.41 on Tuesday. The firm’s market cap is $753.57 million. Vanda Pharmaceuticals has a 52-week low of $6.91 and a 52-week high of $18.00. The company has a 50 day moving average price of $15.84 and a 200-day moving average price of $11.73.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $36.03 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. On average, analysts expect that Vanda Pharmaceuticals will post ($0.61) earnings per share for the current fiscal year.

In related news, insider James E. Flynn sold 547,886 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $15.66, for a total transaction of $8,579,894.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James E. Flynn sold 1,120,461 shares of the business’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $16.56, for a total transaction of $18,554,834.16. The disclosure for this sale can be found here. Corporate insiders own 8.45% of the company’s stock.

Large investors have recently bought and sold shares of the company. Boston Advisors LLC raised its stake in Vanda Pharmaceuticals by 0.7% in the second quarter. Boston Advisors LLC now owns 36,190 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 245 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Vanda Pharmaceuticals by 0.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 89,624 shares of the biopharmaceutical company’s stock valued at $1,003,000 after buying an additional 780 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Vanda Pharmaceuticals by 3.4% in the second quarter. BNP Paribas Arbitrage SA now owns 43,511 shares of the biopharmaceutical company’s stock valued at $487,000 after buying an additional 1,411 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Vanda Pharmaceuticals by 2.3% in the second quarter. California Public Employees Retirement System now owns 71,000 shares of the biopharmaceutical company’s stock valued at $794,000 after buying an additional 1,600 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position 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 valued at $182,000 after buying an additional 1,600 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:VNDA

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