Zacks Investment Research Upgrades Vanda Pharmaceuticals Inc. (VNDA) to Strong-Buy
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday. The firm presently has a $17.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price target indicates a potential upside of 3.98% from the stock’s current price.
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. “
Other equities research analysts have also issued research reports about the stock. Piper Jaffray Cos. set a $19.00 price target on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, October 1st. Brean Capital set a $20.00 target price on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, July 28th. Jefferies Group assumed coverage on shares of Vanda Pharmaceuticals in a research note on Thursday, October 6th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, JMP Securities boosted their target price on shares of Vanda Pharmaceuticals from $18.00 to $22.00 and gave the company a “market outperform” rating in a research note on Friday, August 26th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $21.00.
Vanda Pharmaceuticals (NASDAQ:VNDA) opened at 16.35 on Tuesday. Vanda Pharmaceuticals has a 1-year low of $6.91 and a 1-year high of $18.00. The firm’s market cap is $718.52 million. The firm’s 50-day moving average is $15.96 and its 200 day moving average is $12.74.
Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its quarterly earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.13. The firm had revenue of $38.48 million for the quarter, compared to analyst estimates of $38.05 million. Vanda Pharmaceuticals had a negative net margin of 23.07% and a negative return on equity of 16.13%. The business’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.22) EPS. On average, equities analysts forecast that Vanda Pharmaceuticals will post ($0.47) earnings per share for the current fiscal year.
In other Vanda Pharmaceuticals news, insider James E. Flynn sold 547,886 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 value of $18,554,834.16. The disclosure for this sale can be found here. Corporate insiders own 8.45% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its stake 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. Emerald Acquisition Ltd. purchased a new stake in shares of Vanda Pharmaceuticals during the second quarter valued at $553,000. Boston Advisors LLC boosted its stake in shares of 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 in the last quarter. Princeton Alpha Management LP purchased a new stake in shares of Vanda Pharmaceuticals during the second quarter valued at $218,000. Finally, BlackRock Advisors LLC boosted its stake in shares of Vanda Pharmaceuticals by 391.0% in the second quarter. BlackRock Advisors LLC now owns 96,756 shares of the biopharmaceutical company’s stock valued at $1,083,000 after buying an additional 77,051 shares in the last quarter. 86.75% of the stock is owned by hedge funds and other institutional investors.
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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