Vanda Pharmaceuticals (VNDA) Now Covered by Analysts at Oppenheimer

Stock analysts at Oppenheimer started coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note issued on Thursday. The brokerage set a “buy” rating and a $29.00 price target on the biopharmaceutical company’s stock. Oppenheimer’s price objective would indicate a potential upside of 44.64% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Vanda Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Sunday, July 15th. Cantor Fitzgerald initiated coverage on shares of Vanda Pharmaceuticals in a report on Wednesday, August 22nd. They set a “neutral” rating and a $26.00 price target for the company. Citigroup initiated coverage on shares of Vanda Pharmaceuticals in a report on Wednesday, May 23rd. They set a “buy” rating and a $26.00 price target for the company. Stifel Nicolaus initiated coverage on shares of Vanda Pharmaceuticals in a report on Thursday, September 13th. They set a “buy” rating and a $30.00 price target for the company. Finally, Seaport Global Securities reiterated a “buy” rating and set a $26.00 price target on shares of Vanda Pharmaceuticals in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $25.75.

NASDAQ:VNDA traded up $0.40 during mid-day trading on Thursday, hitting $20.05. 479,509 shares of the company’s stock traded hands, compared to its average volume of 585,743. Vanda Pharmaceuticals has a 1 year low of $11.90 and a 1 year high of $23.35. The company has a market capitalization of $1.02 billion, a P/E ratio of -57.29 and a beta of 0.52.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its earnings results on Wednesday, August 1st. The biopharmaceutical company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.14. Vanda Pharmaceuticals had a net margin of 0.73% and a return on equity of 0.68%. The firm had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.28 million. During the same period last year, the firm posted $0.03 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY grew its holdings in shares of Vanda Pharmaceuticals by 18.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 17,187 shares of the biopharmaceutical company’s stock worth $327,000 after buying an additional 2,671 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Vanda Pharmaceuticals by 2.9% in the first quarter. Allianz Asset Management GmbH now owns 136,218 shares of the biopharmaceutical company’s stock valued at $2,295,000 after purchasing an additional 3,903 shares during the period. MetLife Investment Advisors LLC grew its holdings in Vanda Pharmaceuticals by 20.0% in the second quarter. MetLife Investment Advisors LLC now owns 24,336 shares of the biopharmaceutical company’s stock valued at $464,000 after purchasing an additional 4,063 shares during the period. Strs Ohio grew its holdings in Vanda Pharmaceuticals by 9.7% in the second quarter. Strs Ohio now owns 47,500 shares of the biopharmaceutical company’s stock valued at $904,000 after purchasing an additional 4,200 shares during the period. Finally, Fox Run Management L.L.C. grew its holdings in Vanda Pharmaceuticals by 23.9% in the second quarter. Fox Run Management L.L.C. now owns 28,611 shares of the biopharmaceutical company’s stock valued at $545,000 after purchasing an additional 5,516 shares during the period. Institutional investors and hedge funds own 93.56% of the company’s stock.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system disorders. 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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Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

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