Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, October 24th. The brokerage currently has a $18.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 36.88% from the company’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. “
A number of other analysts have also weighed in on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $21.00 target price on shares of Vanda Pharmaceuticals in a report on Tuesday, August 29th. Piper Jaffray Companies increased their target price on shares of Vanda Pharmaceuticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, September 14th. BidaskClub upgraded shares of Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $21.00 target price on shares of Vanda Pharmaceuticals in a report on Thursday, September 14th. Finally, HC Wainwright set a $18.00 target price on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Vanda Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $21.67.
Shares of Vanda Pharmaceuticals (VNDA) opened at $13.15 on Tuesday. Vanda Pharmaceuticals has a 1 year low of $12.60 and a 1 year high of $18.99.
Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $41.30 million during the quarter, compared to analyst estimates of $43.90 million. Vanda Pharmaceuticals had a negative net margin of 9.01% and a negative return on equity of 10.99%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. equities analysts expect that Vanda Pharmaceuticals will post -0.42 earnings per share for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc lifted its holdings in Vanda Pharmaceuticals by 37.4% in the second quarter. Legal & General Group Plc now owns 11,105 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 3,022 shares during the period. Kopp Investment Advisors LLC bought a new position in shares of Vanda Pharmaceuticals during the second quarter valued at approximately $196,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Vanda Pharmaceuticals during the third quarter valued at approximately $277,000. American International Group Inc. increased its stake in shares of Vanda Pharmaceuticals by 7.1% during the first quarter. American International Group Inc. now owns 22,563 shares of the biopharmaceutical company’s stock valued at $316,000 after purchasing an additional 1,491 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of Vanda Pharmaceuticals by 29.7% during the second quarter. Voya Investment Management LLC now owns 20,118 shares of the biopharmaceutical company’s stock valued at $328,000 after purchasing an additional 4,605 shares in the last quarter. Institutional investors and hedge funds own 87.01% 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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