Zacks Investment Research downgraded shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) from a strong-buy rating to a hold rating in a research report released on Thursday morning.

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 several other reports. Jefferies Group LLC reiterated a buy rating and set a $21.00 price objective on shares of Vanda Pharmaceuticals in a research report on Tuesday, August 29th. Oppenheimer Holdings, Inc. reiterated a buy rating and set a $21.00 price objective on shares of Vanda Pharmaceuticals in a research report on Thursday, September 14th. Piper Jaffray Companies reiterated an overweight rating and set a $23.00 price objective on shares of Vanda Pharmaceuticals in a research report on Tuesday, June 27th. HC Wainwright set a $18.00 price objective on shares of Vanda Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of Vanda Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Vanda Pharmaceuticals presently has an average rating of Buy and an average target price of $21.63.

Vanda Pharmaceuticals (VNDA) traded up 0.87% during midday trading on Thursday, hitting $17.35. The stock had a trading volume of 445,138 shares. The firm has a 50 day moving average price of $17.40 and a 200 day moving average price of $15.56. Vanda Pharmaceuticals has a one year low of $12.70 and a one year high of $18.99. The stock’s market cap is $778.29 million.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.18. Vanda Pharmaceuticals had a negative net margin of 6.54% and a negative return on equity of 7.85%. The firm had revenue of $42.06 million for the quarter, compared to analysts’ expectations of $40.31 million. During the same period in the previous year, the company posted $0.01 EPS. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities analysts expect that Vanda Pharmaceuticals will post ($0.42) EPS for the current year.

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Several institutional investors have recently bought and sold shares of VNDA. Legal & General Group Plc grew its holdings in shares of Vanda Pharmaceuticals by 37.4% during the 2nd quarter. Legal & General Group Plc now owns 11,105 shares of the biopharmaceutical company’s stock valued at $181,000 after acquiring an additional 3,022 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of Vanda Pharmaceuticals during the 1st quarter valued at $193,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Vanda Pharmaceuticals during the 1st quarter valued at $196,000. Kopp Investment Advisors LLC purchased a new position in shares of Vanda Pharmaceuticals during the 2nd quarter valued at $196,000. Finally, American International Group Inc. grew its holdings in shares of Vanda Pharmaceuticals by 7.1% during the 1st quarter. American International Group Inc. now owns 22,563 shares of the biopharmaceutical company’s stock valued at $316,000 after acquiring an additional 1,491 shares in the last quarter. Institutional investors and hedge funds own 86.49% 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 therapies to address unmet medical needs. Its product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051. It offers HETLIOZ for the treatment of Non-24-Hour Sleep-Wake Disorder (Non-24).

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