Vanda Pharmaceuticals (NASDAQ:VNDA) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Vanda Pharmaceuticals to “strong sell” from “hold,” while the broader analyst consensus remains “Hold” with an average price target of $13.08.
• Vanda shares opened at $4.56, near their 12-month low of $4.27, after the company reported a quarterly loss of $1.04 per share and revenue of $50.53 million, both worse than analyst expectations.
• Institutional investors own 88.14% of the company, with BlackRock, Renaissance Technologies, State Street, AIGH Capital Management, and Quantinno Capital among investors recently increasing or initiating positions.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

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

Vanda Pharmaceuticals Price Performance

Shares of VNDA stock opened at $4.56 on Tuesday. The firm has a market cap of $275.70 million, a price-to-earnings 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 quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $5.15 and a 200 day moving average price of $5.94.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.46). Vanda Pharmaceuticals had a negative net margin of 127.41% and a negative return on equity of 49.81%. The business had revenue of $50.53 million for the quarter, compared to analyst estimates of $61.92 million. Research analysts expect that Vanda Pharmaceuticals will post -3.02 EPS for the current year.

Institutional Trading of Vanda Pharmaceuticals

A number of large investors have recently made changes to their positions in VNDA. BlackRock Inc. bought a new stake in shares of Vanda Pharmaceuticals in the second quarter worth about $46,841,000. Renaissance Technologies LLC increased its stake in Vanda Pharmaceuticals by 11.2% during the 1st quarter. Renaissance Technologies LLC now owns 3,759,559 shares of the biopharmaceutical company's stock worth $25,979,000 after purchasing an additional 378,598 shares in the last quarter. State Street Corp raised its holdings in Vanda Pharmaceuticals by 16.6% during the 2nd quarter. State Street Corp now owns 3,516,405 shares of the biopharmaceutical company's stock worth $21,520,000 after buying an additional 500,843 shares during the period. AIGH Capital Management LLC raised its holdings in 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 worth $19,002,000 after buying an additional 751,569 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in Vanda Pharmaceuticals by 25.0% during the 1st quarter. Quantinno Capital Management LP now owns 327,193 shares of the biopharmaceutical company's stock worth $2,261,000 after buying an additional 65,391 shares during the period. 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.

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