Vanda Pharmaceuticals’ (VNDA) “Outperform” Rating Reiterated at CIBC

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)‘s stock had its “outperform” rating reissued by equities research analysts at CIBC in a research report issued on Wednesday. They currently have a $21.00 price target on the biopharmaceutical company’s stock. CIBC’s price target suggests a potential upside of 52.73% from the company’s previous close.

VNDA has been the subject of several other reports. Zacks Investment Research downgraded Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, January 18th. Jefferies Group LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Vanda Pharmaceuticals in a research note on Sunday, January 8th. Finally, Oppenheimer Holdings Inc. started coverage on Vanda Pharmaceuticals in a research note on Wednesday. They set an “outperform” rating and a $21.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $21.13.

Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

Shares of Vanda Pharmaceuticals (NASDAQ:VNDA) traded up 2.364% during trading on Wednesday, reaching $14.075. The company had a trading volume of 265,765 shares. The firm’s 50 day moving average price is $14.19 and its 200 day moving average price is $15.14. Vanda Pharmaceuticals has a 12 month low of $8.04 and a 12 month high of $18.00. The firm’s market capitalization is $624.17 million.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings data on Wednesday, February 15th. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. The firm earned $38.24 million during the quarter, compared to the consensus estimate of $39.38 million. Vanda Pharmaceuticals had a negative return on equity of 16.13% and a negative net margin of 23.07%. Equities analysts predict that Vanda Pharmaceuticals will post ($0.63) EPS for the current year.

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Several institutional investors have recently modified their holdings of the company. BlackRock Advisors LLC increased its position in shares of Vanda Pharmaceuticals by 2.0% in the third quarter. BlackRock Advisors LLC now owns 98,663 shares of the biopharmaceutical company’s stock worth $1,642,000 after buying an additional 1,907 shares during the period. Federated Investors Inc. PA increased its position in shares of Vanda Pharmaceuticals by 1,102.3% in the fourth quarter. Federated Investors Inc. PA now owns 70,961 shares of the biopharmaceutical company’s stock worth $1,132,000 after buying an additional 65,059 shares during the period. State Street Corp increased its position in shares of Vanda Pharmaceuticals by 27.2% in the fourth quarter. State Street Corp now owns 1,751,605 shares of the biopharmaceutical company’s stock worth $27,935,000 after buying an additional 374,095 shares during the period. Prudential Financial Inc. increased its position in shares of Vanda Pharmaceuticals by 69.0% in the third quarter. Prudential Financial Inc. now owns 598,518 shares of the biopharmaceutical company’s stock worth $9,959,000 after buying an additional 244,410 shares during the period. Finally, FMR LLC increased its position in shares of Vanda Pharmaceuticals by 928.0% in the fourth quarter. FMR LLC now owns 996,271 shares of the biopharmaceutical company’s stock worth $15,891,000 after buying an additional 899,358 shares during the period. 95.69% of the stock is owned by institutional investors and hedge funds.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies to address unmet medical needs. Its product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051. It offers HETLIOZ for the treatment of Non-24-Hour Sleep-Wake Disorder (Non-24).

5 Day Chart for NASDAQ:VNDA

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