Vanda Pharmaceuticals (NASDAQ:VNDA) Downgraded by Wall Street Zen to "Strong Sell"

Key Points

• Wall Street Zen downgraded Vanda Pharmaceuticals from “sell” to “strong sell,” adding to a mixed but generally cautious analyst backdrop. The stock’s consensus rating remains “Moderate Buy,” with an average price target of $14.90.
• Recent earnings missed expectations: Vanda reported EPS of -$0.82 versus the -$0.69 estimate, and revenue of $51.72 million also came in below forecasts. Analysts expect the company to post -$2.18 EPS for the full fiscal year.
• Insiders have been selling shares, including CEO Mihael Hristos Polymeropoulos and CFO Kevin Patrick Moran, while institutional investors still hold the vast majority of the stock. Insiders sold 314,342 shares worth about $2.58 million over the last 90 days.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Saturday.

Other equities analysts have also issued reports about the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Vanda Pharmaceuticals in a report on Monday, April 20th. Zacks Research lowered shares of Vanda Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 18th. Truist Financial started coverage on shares of Vanda Pharmaceuticals in a report on Thursday, March 5th. They issued a "buy" rating and a $18.00 target price on the stock. Finally, HC Wainwright raised their target price on shares of Vanda Pharmaceuticals from $22.00 to $24.00 and gave the company a "buy" rating in a report on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $14.90.

Vanda Pharmaceuticals Price Performance

VNDA stock opened at $6.28 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.16 and a debt-to-equity ratio of 0.01. Vanda Pharmaceuticals has a 12 month low of $3.81 and a 12 month high of $9.94. The firm has a market cap of $377.62 million, a P/E ratio of -1.55 and a beta of 0.65. The company's 50-day moving average price is $7.57 and its two-hundred day moving average price is $6.79.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.13). Vanda Pharmaceuticals had a negative net margin of 109.99% and a negative return on equity of 32.26%. The firm had revenue of $51.72 million during the quarter, compared to the consensus estimate of $54.98 million. On average, analysts anticipate that Vanda Pharmaceuticals will post -2.18 earnings per share for the current fiscal year.

Insider Activity at Vanda Pharmaceuticals

In related news, CEO Mihael Hristos Polymeropoulos sold 156,235 shares of Vanda Pharmaceuticals stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $8.17, for a total transaction of $1,276,439.95. Following the sale, the chief executive officer directly owned 2,704,496 shares of the company's stock, valued at approximately $22,095,732.32. The trade was a 5.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Patrick Moran sold 42,442 shares of Vanda Pharmaceuticals stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $8.27, for a total transaction of $350,995.34. Following the sale, the chief financial officer directly owned 411,380 shares in the company, valued at $3,402,112.60. This trade represents a 9.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 314,342 shares of company stock worth $2,583,985 in the last ninety days. Insiders own 10.00% of the company's stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC grew its holdings in shares of Vanda Pharmaceuticals by 8.8% during the 1st quarter. Hsbc Holdings PLC now owns 38,855 shares of the biopharmaceutical company's stock valued at $261,000 after purchasing an additional 3,144 shares during the last quarter. AIGH Capital Management LLC boosted its position 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. Strs Ohio boosted its position in Vanda Pharmaceuticals by 23,133.3% during the 1st quarter. Strs Ohio now owns 69,700 shares of the biopharmaceutical company's stock worth $482,000 after buying an additional 69,400 shares during the period. SG Americas Securities LLC boosted its position in Vanda Pharmaceuticals by 94.7% during the 1st quarter. SG Americas Securities LLC now owns 21,042 shares of the biopharmaceutical company's stock worth $145,000 after buying an additional 10,235 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its position in Vanda Pharmaceuticals by 8,629.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 29,158 shares of the biopharmaceutical company's stock worth $257,000 after buying an additional 28,824 shares during the period. 88.14% of the stock is owned by institutional investors.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders and rare diseases. The company's research and development efforts center on sleep-wake regulation, mood disorders, and movement disorders. Vanda's mission is to address unmet medical needs by advancing novel molecules through clinical trials and regulatory review.

Vanda's flagship commercial product is Hetlioz (tasimelteon), a melatonin receptor agonist approved by the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.