Vanda Pharmaceuticals (VNDA) Cut to “Hold” at Zacks Investment Research

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Vanda Pharmaceuticals (NASDAQ:VNDA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. TheStreet raised Vanda Pharmaceuticals from a “c” rating to a “b-” rating in a research report on Friday, October 26th. CIBC restated an “outperform” rating on shares of Vanda Pharmaceuticals in a research note on Friday, September 21st. Stifel Nicolaus assumed coverage on Vanda Pharmaceuticals in a research note on Thursday, September 13th. They set a “buy” rating and a $30.00 target price for the company. BidaskClub downgraded Vanda Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. Finally, Oppenheimer set a $29.00 target price on Vanda Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, October 3rd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Vanda Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $27.43.

NASDAQ:VNDA traded up $0.37 during mid-day trading on Wednesday, hitting $23.83. The company had a trading volume of 5,543 shares, compared to its average volume of 601,413. Vanda Pharmaceuticals has a 1 year low of $11.90 and a 1 year high of $25.07. The firm has a market capitalization of $1.05 billion, a PE ratio of -68.34 and a beta of 1.06.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.18. Vanda Pharmaceuticals had a return on equity of 0.68% and a net margin of 0.73%. The company had revenue of $49.13 million for the quarter, compared to analyst estimates of $49.44 million. During the same period last year, the company posted ($0.03) earnings per share. The firm’s revenue was up 18.9% compared to the same quarter last year. On average, research analysts predict that Vanda Pharmaceuticals will post -0.04 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in VNDA. Russell Investments Group Ltd. grew its stake in shares of Vanda Pharmaceuticals by 665.9% during the first quarter. Russell Investments Group Ltd. now owns 44,065 shares of the biopharmaceutical company’s stock valued at $742,000 after acquiring an additional 38,312 shares in the last quarter. UBS Group AG grew its stake in Vanda Pharmaceuticals by 35.9% in the first quarter. UBS Group AG now owns 84,739 shares of the biopharmaceutical company’s stock worth $1,428,000 after purchasing an additional 22,382 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Vanda Pharmaceuticals by 2.9% in the first quarter. Allianz Asset Management GmbH now owns 136,218 shares of the biopharmaceutical company’s stock worth $2,295,000 after purchasing an additional 3,903 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in Vanda Pharmaceuticals in the second quarter worth about $240,000. Finally, Fox Run Management L.L.C. grew its stake in Vanda Pharmaceuticals by 23.9% in the second quarter. Fox Run Management L.L.C. now owns 28,611 shares of the biopharmaceutical company’s stock worth $545,000 after purchasing an additional 5,516 shares in the last quarter. Institutional investors own 93.92% of the company’s stock.

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.

See Also: Intrinsic Value

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