Vanda Pharmaceuticals (NASDAQ:VNDA) was upgraded by research analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a $43.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 48.58% from the stock’s previous close.
The analysts wrote, “. We are upgrading and increasing our 12-month PT to $43 from $26. Vanda announced that tradipitant met the primary endpoint in its P2 study in patients with idiopathic and diabetic gastroparesis. Based on our recent KOL due diligence, we are impressed with the effect size magnitude, which points to a clinically meaningful increase in nausea-free days, indicating a clear improvement in patient QoL. Importantly, subgroup analysis of pts experiencing both nausea and vomiting at baseline (n=101) shows that tradi’ met the primary endpoint of change in nausea score (p=0.00002) as well as the number of nausea-free days (p=0.0003), a tough putt” result.””
Several other analysts have also commented on VNDA. Zacks Investment Research lowered Vanda Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 8th. Stifel Nicolaus started coverage on Vanda Pharmaceuticals in a report on Thursday, September 13th. They issued a “buy” rating and a $30.00 price objective for the company. Oppenheimer started coverage on Vanda Pharmaceuticals in a report on Thursday, September 20th. They issued a “buy” rating and a $29.00 price objective for the company. CIBC reaffirmed an “outperform” rating on shares of Vanda Pharmaceuticals in a report on Friday, September 21st. Finally, Citigroup lifted their price objective on Vanda Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, October 16th. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $33.00.
Vanda Pharmaceuticals stock opened at $28.94 on Tuesday. Vanda Pharmaceuticals has a 12 month low of $13.30 and a 12 month high of $33.44. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -82.69, a price-to-earnings-growth ratio of 4.28 and a beta of 0.87.
Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.18. Vanda Pharmaceuticals had a return on equity of 5.88% and a net margin of 7.06%. The company had revenue of $49.13 million during the quarter, compared to analyst estimates of $49.44 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. Vanda Pharmaceuticals’s revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts expect that Vanda Pharmaceuticals will post 0.21 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Vanda Pharmaceuticals by 18.8% during the third quarter. Vanguard Group Inc. now owns 3,969,954 shares of the biopharmaceutical company’s stock valued at $91,111,000 after purchasing an additional 629,086 shares during the period. Legal & General Group Plc grew its holdings in Vanda Pharmaceuticals by 1,283.3% during the third quarter. Legal & General Group Plc now owns 111,631 shares of the biopharmaceutical company’s stock valued at $2,563,000 after purchasing an additional 103,561 shares during the period. TIAA CREF Investment Management LLC grew its holdings in Vanda Pharmaceuticals by 6.1% during the third quarter. TIAA CREF Investment Management LLC now owns 727,023 shares of the biopharmaceutical company’s stock valued at $16,685,000 after purchasing an additional 41,687 shares during the period. Neuberger Berman Group LLC grew its holdings in Vanda Pharmaceuticals by 51.7% during the third quarter. Neuberger Berman Group LLC now owns 45,500 shares of the biopharmaceutical company’s stock valued at $1,044,000 after purchasing an additional 15,500 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in Vanda Pharmaceuticals by 328,291.4% during the third quarter. Glenmede Trust Co. NA now owns 1,766,746 shares of the biopharmaceutical company’s stock valued at $40,545,000 after purchasing an additional 1,766,208 shares during the period. 99.33% of the stock is owned by institutional investors and hedge funds.
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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