Vanda Pharmaceuticals (NASDAQ:VNDA) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Marketbeat.com reports. The firm currently has a $19.00 price target on the biopharmaceutical company’s stock. Citigroup‘s price objective indicates a potential upside of 24.10% from the stock’s current price.
VNDA has been the topic of several other reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $17.00 target price on shares of Vanda Pharmaceuticals in a research report on Wednesday. Oppenheimer set a $18.00 target price on Vanda Pharmaceuticals and gave the company a “hold” rating in a research report on Sunday, May 5th. BidaskClub lowered Vanda Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 11th. Zacks Investment Research lowered Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Finally, ValuEngine lowered Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.57.
NASDAQ:VNDA traded down $0.48 during mid-day trading on Thursday, hitting $15.31. 1,604,293 shares of the company’s stock traded hands, compared to its average volume of 603,109. The stock has a fifty day moving average of $13.71. Vanda Pharmaceuticals has a twelve month low of $11.83 and a twelve month high of $33.44. The company has a market cap of $659.40 million, a P/E ratio of 23.94 and a beta of 0.38.
Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its earnings results on Wednesday, July 31st. The biopharmaceutical company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.24. Vanda Pharmaceuticals had a return on equity of 10.47% and a net margin of 13.61%. The company had revenue of $59.06 million for the quarter, compared to analyst estimates of $54.19 million. During the same period in the prior year, the company posted $0.15 EPS. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities research analysts predict that Vanda Pharmaceuticals will post 0.07 earnings per share for the current year.
In other news, CEO Mihael Hristos Polymeropoulos sold 72,872 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $15.34, for a total value of $1,117,856.48. Following the transaction, the chief executive officer now directly owns 1,276,343 shares of the company’s stock, valued at $19,579,101.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Advisor Group Inc. grew its holdings in Vanda Pharmaceuticals by 66.2% during the fourth quarter. Advisor Group Inc. now owns 2,916 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,161 shares during the period. Pearl River Capital LLC grew its holdings in Vanda Pharmaceuticals by 6,148.0% during the first quarter. Pearl River Capital LLC now owns 6,248 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 6,148 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in Vanda Pharmaceuticals during the first quarter worth about $117,000. Adams Diversified Equity Fund Inc. acquired a new stake in Vanda Pharmaceuticals during the first quarter worth about $120,000. Finally, Victory Capital Management Inc. acquired a new stake in Vanda Pharmaceuticals during the first quarter worth about $144,000. 99.33% of the stock is currently owned by institutional investors and hedge funds.
About Vanda Pharmaceuticals
Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs and improve the lives of patients. 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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