Vanda Pharmaceuticals (NASDAQ:VNDA) Downgraded by Citigroup

Vanda Pharmaceuticals (NASDAQ:VNDA) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Thursday, The Fly reports. They currently have a $19.00 price target on the biopharmaceutical company’s stock. Citigroup‘s price target would suggest a potential upside of 28.90% from the stock’s previous close.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus restated a “hold” rating and issued a $17.00 price objective on shares of Vanda Pharmaceuticals in a report on Thursday. Zacks Investment Research downgraded Vanda Pharmaceuticals from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a report on Saturday, October 5th. ValuEngine raised Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub raised Vanda Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $26.71.

NASDAQ VNDA traded up $0.21 on Thursday, reaching $14.74. The company’s stock had a trading volume of 787,900 shares, compared to its average volume of 762,937. The firm’s 50 day moving average is $13.51 and its two-hundred day moving average is $14.36. Vanda Pharmaceuticals has a twelve month low of $11.83 and a twelve month high of $33.44. The stock has a market cap of $719.20 million, a PE ratio of 30.71 and a beta of 0.29.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $1.77. Vanda Pharmaceuticals had a return on equity of 10.23% and a net margin of 13.61%. The firm had revenue of $59.49 million for the quarter, compared to the consensus estimate of $58.33 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The firm’s revenue was up 21.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Vanda Pharmaceuticals will post 0.3 EPS for the current fiscal year.

In other Vanda Pharmaceuticals news, Director Richard W. Dugan sold 15,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 50,770 shares of the company’s stock, valued at $753,934.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy Williams sold 2,575 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $14.69, for a total value of $37,826.75. Following the sale, the senior vice president now directly owns 57,425 shares of the company’s stock, valued at approximately $843,573.25. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. North Star Investment Management Corp. bought a new stake in shares of Vanda Pharmaceuticals in the third quarter valued at approximately $66,000. Meeder Asset Management Inc. boosted its position in shares of Vanda Pharmaceuticals by 1,638.3% in the third quarter. Meeder Asset Management Inc. now owns 5,215 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 4,915 shares during the period. Clarus Wealth Advisors bought a new stake in shares of Vanda Pharmaceuticals in the third quarter valued at approximately $133,000. Pacer Advisors Inc. bought a new stake in shares of Vanda Pharmaceuticals in the second quarter valued at approximately $138,000. Finally, Zebra Capital Management LLC bought a new stake in shares of Vanda Pharmaceuticals in the second quarter valued at approximately $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.

Featured Story: Blockchain

The Fly

Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

Leave a Reply

Your email address will not be published. Required fields are marked *

*