Wall Street Zen Upgrades Vanda Pharmaceuticals (NASDAQ:VNDA) to Sell

Key Points

• Wall Street Zen upgraded Vanda Pharmaceuticals from “strong sell” to “sell,” while analysts remain divided. The stock carries an average “hold” rating and a consensus price target of $13.50.
• VNDA opened at $3.79, near its 52-week low of $3.74 and well below its 52-week high of $9.94; its 50-day and 200-day moving averages were $4.79 and $6.22, respectively.
• Vanda reported a quarterly loss of $0.37 per share, beating estimates for a $0.68 loss, and revenue of $69.81 million. Despite the earnings beat, the company posted a negative net margin of 119.87%, while institutional investors owned 88.14% of its stock.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on VNDA. Weiss Ratings reissued a "sell (d-)" rating on shares of Vanda Pharmaceuticals in a research note on Thursday, October 15th. Zacks Research lowered shares of Vanda Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 6th. Oppenheimer started coverage on shares of Vanda Pharmaceuticals in a research note on Wednesday, September 23rd. They set an "outperform" rating and a $10.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of Vanda Pharmaceuticals in a report on Monday, October 5th. Finally, B. Riley Financial reaffirmed a "buy" rating and set a $12.00 price objective (down from $17.00) on shares of Vanda Pharmaceuticals in a report on Monday, August 10th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $13.50.

Vanda Pharmaceuticals Stock Performance

VNDA opened at $3.79 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.60 and a debt-to-equity ratio of 0.01. The firm's fifty day moving average price is $4.79 and its two-hundred day moving average price is $6.22. Vanda Pharmaceuticals has a fifty-two week low of $3.74 and a fifty-two week high of $9.94.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.31. The company had revenue of $69.81 million during the quarter, compared to analysts' expectations of $69.20 million. Vanda Pharmaceuticals had a negative net margin of 119.87% and a negative return on equity of 62.70%. On average, equities analysts anticipate that Vanda Pharmaceuticals will post -3.02 EPS for the current year.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in VNDA. BlackRock Inc. acquired a new stake in shares of Vanda Pharmaceuticals during the second quarter worth approximately $46,841,000. AIGH Capital Management LLC bought a new stake in Vanda Pharmaceuticals during the 2nd quarter worth approximately $12,510,000. State Street Corp grew its position 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 acquiring an additional 500,843 shares during the last quarter. Renaissance Technologies LLC grew its position 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 acquiring an additional 378,598 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in Vanda Pharmaceuticals during the 2nd quarter valued at $1,731,000. Institutional investors and hedge funds own 88.14% of the company's stock.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system disorders and other conditions with significant unmet medical needs. Founded in 2003 and headquartered in Washington, DC, the company primarily serves patients and healthcare providers in the United States, with certain products and commercial rights extending to international markets.

Vanda's marketed products include Hetlioz (tasimelteon), a treatment for Non-24-Hour Sleep-Wake Disorder in totally blind individuals and nighttime sleep disturbances associated with Smith-Magenis syndrome.

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