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

A number of other brokerages also recently commented on VNDA. Cantor Fitzgerald reiterated a hold rating and set a $26.00 target price on shares of Vanda Pharmaceuticals in a research note on Wednesday, October 3rd. Citigroup boosted their target price on shares of Vanda Pharmaceuticals from $27.00 to $31.00 and gave the stock a buy rating in a research note on Tuesday, October 16th. Oppenheimer set a $29.00 target price on shares of Vanda Pharmaceuticals and gave the stock a buy rating in a research note on Wednesday, October 3rd. Stifel Nicolaus initiated coverage on shares of Vanda Pharmaceuticals in a research report on Thursday, September 13th. They issued a buy rating and a $30.00 price target for the company. Finally, TheStreet raised shares of Vanda Pharmaceuticals from a c rating to a b- rating in a research report on Friday, October 26th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $27.43.

Shares of VNDA stock traded up $0.35 on Wednesday, reaching $23.81. 722,224 shares of the stock were exchanged, compared to its average volume of 608,696. The company has a market cap of $1.07 billion, a P/E ratio of -68.03 and a beta of 1.06. Vanda Pharmaceuticals has a twelve month low of $11.90 and a twelve month high of $25.07.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its earnings results on Wednesday, November 7th. The biopharmaceutical company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.18. The firm had revenue of $49.13 million during the quarter, compared to the consensus estimate of $49.44 million. Vanda Pharmaceuticals had a net margin of 7.06% and a return on equity of 6.26%. The company’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, equities analysts expect that Vanda Pharmaceuticals will post -0.04 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Vanda Pharmaceuticals by 78.3% in the third quarter. BlackRock Inc. now owns 8,845,222 shares of the biopharmaceutical company’s stock valued at $202,999,000 after acquiring an additional 3,884,298 shares during the last quarter. Macquarie Group Ltd. lifted its position in Vanda Pharmaceuticals by 12.1% in the second quarter. Macquarie Group Ltd. now owns 2,555,004 shares of the biopharmaceutical company’s stock valued at $48,673,000 after acquiring an additional 276,057 shares during the last quarter. Renaissance Technologies LLC lifted its position in Vanda Pharmaceuticals by 2.5% in the second quarter. Renaissance Technologies LLC now owns 1,681,250 shares of the biopharmaceutical company’s stock valued at $32,028,000 after acquiring an additional 41,200 shares during the last quarter. First Manhattan Co. lifted its position in Vanda Pharmaceuticals by 478,333.0% in the second quarter. First Manhattan Co. now owns 956,866 shares of the biopharmaceutical company’s stock valued at $18,228,000 after acquiring an additional 956,666 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Vanda Pharmaceuticals by 15.7% in the second quarter. Northern Trust Corp now owns 676,300 shares of the biopharmaceutical company’s stock valued at $12,884,000 after buying an additional 91,539 shares during the last quarter. 93.92% of the stock is owned by hedge funds and other institutional investors.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system disorders. The company's marketed products include HETLIOZ (tasimelteon), a product for the treatment of non-24-hour sleep-wake disorders; and Fanapt (iloperidone), a product for the treatment of schizophrenia.

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