Vanda Pharmaceuticals Inc. (VNDA) Given Consensus Recommendation of “Buy” by Brokerages

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) has been given an average rating of “Buy” by the twelve research firms that are covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $38.57.

Several equities analysts have recently weighed in on VNDA shares. Cantor Fitzgerald started coverage on shares of Vanda Pharmaceuticals in a research note on Wednesday, August 22nd. They issued a “neutral” rating and a $26.00 price target on the stock. Stifel Nicolaus began coverage on shares of Vanda Pharmaceuticals in a research note on Thursday, September 13th. They set a “buy” rating and a $30.00 target price on the stock. Oppenheimer began coverage on shares of Vanda Pharmaceuticals in a research note on Thursday, September 20th. They set a “buy” rating and a $29.00 target price on the stock. CIBC reaffirmed an “outperform” rating on shares of Vanda Pharmaceuticals in a research note on Friday, September 21st. Finally, Zacks Investment Research raised shares of Vanda Pharmaceuticals from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Friday, October 12th.

Shares of NASDAQ:VNDA traded down $1.82 during midday trading on Monday, hitting $27.60. The company’s stock had a trading volume of 652,062 shares, compared to its average volume of 771,460. The company has a market cap of $1.54 billion, a P/E ratio of -78.86, a P/E/G ratio of 4.00 and a beta of 0.87. Vanda Pharmaceuticals has a 12-month low of $13.30 and a 12-month high of $33.44.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.18. The firm had revenue of $49.13 million for 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 5.88%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share. As a group, analysts expect that Vanda Pharmaceuticals will post 0.21 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of VNDA. BlackRock Inc. raised its stake in Vanda Pharmaceuticals by 78.3% during the third quarter. BlackRock Inc. now owns 8,845,222 shares of the biopharmaceutical company’s stock worth $202,999,000 after purchasing an additional 3,884,298 shares during the period. Glenmede Trust Co. NA grew its holdings in shares of Vanda Pharmaceuticals by 328,291.4% in 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 in the last quarter. Vanguard Group Inc. grew its holdings in shares of Vanda Pharmaceuticals by 18.8% in 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 in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Vanda Pharmaceuticals by 396.9% in the third quarter. Wells Fargo & Company MN now owns 652,305 shares of the biopharmaceutical company’s stock valued at $14,971,000 after purchasing an additional 521,040 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Vanda Pharmaceuticals by 175.5% in the third quarter. Bank of New York Mellon Corp now owns 590,671 shares of the biopharmaceutical company’s stock valued at $13,556,000 after purchasing an additional 376,301 shares in the last quarter. 99.33% of the stock is currently owned by institutional investors.

About Vanda Pharmaceuticals

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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Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

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