Vanda Pharmaceuticals (NASDAQ:VNDA) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Vanda Pharmaceuticals (NASDAQ:VNDA) from a hold rating to a strong sell rating in a report published on Tuesday morning,Zacks reports.

Several other research analysts have also recently weighed in on VNDA. Oppenheimer started coverage on shares of Vanda Pharmaceuticals in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $10.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research note on Friday, July 17th. B. Riley Financial restated a “buy” rating and set a $12.00 target price (down from $17.00) on shares of Vanda Pharmaceuticals in a research report on Monday, August 10th. Finally, HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Vanda Pharmaceuticals in a research note on Monday. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Vanda Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $13.08.

Vanda Pharmaceuticals Price Performance

Shares of NASDAQ:VNDA opened at $4.53 on Tuesday. The company has a 50 day moving average of $5.14 and a 200 day moving average of $5.92. The stock has a market cap of $273.88 million, a P/E ratio of -0.98 and a beta of 0.69. Vanda Pharmaceuticals has a 12 month low of $4.27 and a 12 month high of $9.94. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.01.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.46). Vanda Pharmaceuticals had a negative return on equity of 49.81% and a negative net margin of 127.41%.The firm had revenue of $50.53 million for the quarter, compared to the consensus estimate of $61.92 million. As a group, sell-side analysts forecast that Vanda Pharmaceuticals will post -3.02 EPS for the current fiscal year.

Institutional Trading of Vanda Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of VNDA. BlackRock Inc. purchased a new position in shares of Vanda Pharmaceuticals during the second quarter worth approximately $46,841,000. Renaissance Technologies LLC boosted its stake in shares of Vanda Pharmaceuticals by 11.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,759,559 shares of the biopharmaceutical company’s stock valued at $25,979,000 after purchasing an additional 378,598 shares in the last quarter. State Street Corp grew its holdings in shares of Vanda Pharmaceuticals by 16.6% during the 2nd quarter. State Street Corp now owns 3,516,405 shares of the biopharmaceutical company’s stock valued at $21,520,000 after purchasing an additional 500,843 shares during the last quarter. AIGH Capital Management LLC grew its holdings in shares of Vanda Pharmaceuticals by 37.6% during the 1st quarter. AIGH Capital Management LLC now owns 2,750,000 shares of the biopharmaceutical company’s stock valued at $19,002,000 after purchasing an additional 751,569 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in Vanda Pharmaceuticals by 25.0% in the 1st quarter. Quantinno Capital Management LP now owns 327,193 shares of the biopharmaceutical company’s stock worth $2,261,000 after purchasing an additional 65,391 shares during the period. Hedge funds and other institutional investors own 88.14% of the company’s stock.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing therapies for disorders of the central nervous system. The company was founded in 2003 and is headquartered in Washington, DC Its work centers on conditions involving sleep, circadian rhythms, and psychiatric health.

Vanda’s commercial products include Hetlioz (tasimelteon), a melatonin receptor agonist approved in the United States for Non-24-Hour Sleep-Wake Disorder and Smith-Magenis Syndrome, and Fanapt (iloperidone), an atypical antipsychotic used to treat schizophrenia in adults.