Citigroup lowered shares of Vanda Pharmaceuticals (NASDAQ:VNDA) from a buy rating to a neutral rating in a research note issued to investors on Thursday, The Fly reports. They currently have $19.00 price target on the biopharmaceutical company’s stock.
A number of other brokerages have also recently commented on VNDA. BidaskClub upgraded shares of Vanda Pharmaceuticals from a strong sell rating to a sell rating in a report on Wednesday, October 16th. Zacks Investment Research cut shares of Vanda Pharmaceuticals from a buy rating to a hold rating and set a $15.00 price target on the stock. in a research note on Saturday, October 5th. Stifel Nicolaus reiterated a hold rating and issued a $17.00 price target on shares of Vanda Pharmaceuticals in a research note on Thursday. Finally, ValuEngine upgraded shares of Vanda Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Vanda Pharmaceuticals has an average rating of Hold and an average price target of $26.71.
Shares of NASDAQ VNDA traded up $0.21 during mid-day trading on Thursday, hitting $14.74. The stock had a trading volume of 787,900 shares, compared to its average volume of 762,937. Vanda Pharmaceuticals has a 1 year low of $11.83 and a 1 year high of $33.44. The firm has a market cap of $719.20 million, a P/E ratio of 30.71 and a beta of 0.29. The business has a 50 day moving average price of $13.51 and a two-hundred day moving average price of $14.36.
Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $1.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $1.77. Vanda Pharmaceuticals had a net margin of 13.61% and a return on equity of 10.23%. The firm had revenue of $59.49 million for the quarter, compared to analysts’ expectations of $58.33 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company’s quarterly revenue was up 21.1% on a year-over-year basis. On average, sell-side analysts predict that Vanda Pharmaceuticals will post 0.3 EPS for the current fiscal year.
In related news, SVP Timothy Williams sold 2,575 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $14.69, for a total value of $37,826.75. Following the transaction, the senior vice president now owns 57,425 shares in the company, valued at approximately $843,573.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard W. Dugan sold 15,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $14.85, for a total transaction of $222,750.00. Following the completion of the transaction, the director now owns 50,770 shares in the company, valued at approximately $753,934.50. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. North Star Investment Management Corp. purchased a new position in Vanda Pharmaceuticals in the 3rd quarter worth about $66,000. Meeder Asset Management Inc. raised its position in Vanda Pharmaceuticals by 1,638.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 5,215 shares of the biopharmaceutical company’s stock worth $69,000 after buying an additional 4,915 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Vanda Pharmaceuticals in the 2nd quarter worth about $138,000. Clarus Wealth Advisors purchased a new position in Vanda Pharmaceuticals in the 3rd quarter worth about $133,000. Finally, Zebra Capital Management LLC purchased a new position in Vanda Pharmaceuticals in the 2nd quarter worth about $170,000.
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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