Vanda Pharmaceuticals (NASDAQ:VNDA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of clinical-stage product candidates for central nervous system disorders. It is developing important new medicines to improve the lives of patients. It uses new technologies, including genetics & genomics, to inform our drug discovery, our clinical trials, and our commercial positioning of our compounds. The Company has three product candidates in clinical development. It’s lead product candidate, iloperidone, is a compound for the treatment of schizophrenia & bipolar disorder & is in a Phase III clinical trial for schizophrenia. It’s second product candidate, is a compound for the treatment of insomnia & depression which is currently in a Phase III clinical trial for insomnia. It’s third product candidate, is a compound for the treatment of excessive sleepiness & is ready for a Phase II clinical trial. “

Several other analysts have also recently weighed in on the stock. BidaskClub cut shares of Intersect ENT from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Stifel Nicolaus raised shares of Chipotle Mexican Grill to a “hold” rating and set a $755.00 target price on the stock in a report on Wednesday. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Citigroup cut shares of BCE from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd. Finally, Oppenheimer set a $18.00 target price on shares of Vanda Pharmaceuticals and gave the company a “hold” rating in a report on Sunday, May 5th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $30.75.

Shares of VNDA traded up $0.19 during mid-day trading on Friday, hitting $12.46. 903,204 shares of the company’s stock were exchanged, compared to its average volume of 617,528. The company has a market capitalization of $649.86 million, a P/E ratio of 25.96 and a beta of 0.42. Vanda Pharmaceuticals has a fifty-two week low of $11.83 and a fifty-two week high of $33.44. The company has a 50-day moving average of $13.79.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.08). The firm had revenue of $47.71 million during the quarter, compared to analyst estimates of $51.74 million. Vanda Pharmaceuticals had a net margin of 10.92% and a return on equity of 8.07%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. Research analysts predict that Vanda Pharmaceuticals will post 0.06 EPS for the current fiscal year.

In other Vanda Pharmaceuticals news, CEO Mihael Hristos Polymeropoulos sold 77,225 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $15.56, for a total value of $1,201,621.00. Following the transaction, the chief executive officer now directly owns 1,276,343 shares in the company, valued at $19,859,897.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in shares of Vanda Pharmaceuticals by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 632,889 shares of the biopharmaceutical company’s stock worth $16,537,000 after acquiring an additional 42,218 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Vanda Pharmaceuticals by 40.7% during the first quarter. Acadian Asset Management LLC now owns 626,287 shares of the biopharmaceutical company’s stock worth $11,523,000 after acquiring an additional 181,237 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Vanda Pharmaceuticals by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 596,626 shares of the biopharmaceutical company’s stock worth $15,588,000 after acquiring an additional 6,666 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Vanda Pharmaceuticals by 104.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 530,705 shares of the biopharmaceutical company’s stock worth $13,867,000 after acquiring an additional 270,795 shares during the last quarter. Finally, Rothschild & Co. Asset Management US Inc. grew its position in shares of Vanda Pharmaceuticals by 10.7% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 467,212 shares of the biopharmaceutical company’s stock worth $6,583,000 after acquiring an additional 45,071 shares during the last quarter. Institutional investors own 99.33% of the company’s stock.

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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