Vanda Pharmaceuticals (VNDA) Price Target Raised to $31.00

Vanda Pharmaceuticals (NASDAQ:VNDA) had its target price upped by Citigroup from $27.00 to $31.00 in a research note released on Tuesday morning. Citigroup currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently issued reports on VNDA. Cantor Fitzgerald restated a hold rating and set a $26.00 price objective on shares of Vanda Pharmaceuticals in a research report on Wednesday, October 3rd. Zacks Investment Research upgraded shares of Vanda Pharmaceuticals from a hold rating to a buy rating and set a $26.00 price objective for the company in a research report on Friday, October 12th. Oppenheimer set a $29.00 price objective on shares of Vanda Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, October 3rd. Stifel Nicolaus initiated coverage on shares of Vanda Pharmaceuticals in a research report on Thursday, September 13th. They set a buy rating and a $30.00 price objective for the company. Finally, BidaskClub upgraded shares of Vanda Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Thursday, June 21st. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Vanda Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $26.75.

NASDAQ:VNDA opened at $22.67 on Tuesday. The stock has a market capitalization of $1.19 billion, a PE ratio of -64.77 and a beta of 0.53. Vanda Pharmaceuticals has a twelve month low of $11.90 and a twelve month high of $23.50.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Wednesday, August 1st. The biopharmaceutical company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.14. The firm had revenue of $47.40 million for the quarter, compared to the consensus estimate of $47.28 million. Vanda Pharmaceuticals had a net margin of 0.73% and a return on equity of 0.68%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. As a group, research analysts anticipate that Vanda Pharmaceuticals will post -0.02 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System acquired a new stake in Vanda Pharmaceuticals during the third quarter worth about $532,000. Bank of Montreal Can increased its position in shares of Vanda Pharmaceuticals by 19.4% during the third quarter. Bank of Montreal Can now owns 92,379 shares of the biopharmaceutical company’s stock valued at $2,120,000 after acquiring an additional 15,030 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Vanda Pharmaceuticals during the third quarter valued at about $399,000. Northern Trust Corp increased its position in shares of Vanda Pharmaceuticals by 15.7% during the second quarter. Northern Trust Corp now owns 676,300 shares of the biopharmaceutical company’s stock valued at $12,884,000 after acquiring an additional 91,539 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Vanda Pharmaceuticals by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 214,370 shares of the biopharmaceutical company’s stock valued at $4,084,000 after acquiring an additional 9,796 shares during the last quarter. Hedge funds and other institutional investors own 93.53% 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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