Vanda Pharmaceuticals (NASDAQ:VNDA) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Vanda Pharmaceuticals (NASDAQ:VNDA) from a sell rating to a strong sell rating in a research report released on Saturday morning.

Other equities research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Vanda Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research report on Monday, April 20th. HC Wainwright boosted their target price on shares of Vanda Pharmaceuticals from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Finally, Truist Financial started coverage on shares of Vanda Pharmaceuticals in a research note on Thursday, March 5th. They set a “buy” rating and a $18.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.90.

Vanda Pharmaceuticals Price Performance

Shares of NASDAQ:VNDA opened at $6.28 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.16 and a debt-to-equity ratio of 0.01. Vanda Pharmaceuticals has a fifty-two week low of $3.81 and a fifty-two week high of $9.94. The firm has a 50-day simple moving average of $7.57 and a 200 day simple moving average of $6.79. The company has a market cap of $377.65 million, a PE ratio of -1.55 and a beta of 0.65.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.13). Vanda Pharmaceuticals had a negative net margin of 109.99% and a negative return on equity of 32.26%. The business had revenue of $51.72 million for the quarter, compared to the consensus estimate of $54.98 million. On average, sell-side analysts anticipate that Vanda Pharmaceuticals will post -2.23 EPS for the current year.

Insider Activity

In other Vanda Pharmaceuticals news, SVP Gunther Birznieks sold 42,431 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $8.27, for a total transaction of $350,904.37. Following the completion of the transaction, the senior vice president directly owned 494,197 shares of the company’s stock, valued at $4,087,009.19. The trade was a 7.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Joakim Wijkstrom sold 30,800 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $8.27, for a total transaction of $254,716.00. Following the transaction, the chief marketing officer directly owned 333,469 shares of the company’s stock, valued at $2,757,788.63. The trade was a 8.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 314,342 shares of company stock worth $2,583,985 over the last three months. Insiders own 10.00% of the company’s stock.

Institutional Trading of Vanda Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Vanda Pharmaceuticals by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,587,139 shares of the biopharmaceutical company’s stock worth $17,900,000 after acquiring an additional 14,336 shares during the period. AIGH Capital Management LLC lifted its stake in shares of Vanda Pharmaceuticals by 37.6% in the 1st quarter. AIGH Capital Management LLC now owns 2,750,000 shares of the biopharmaceutical company’s stock worth $19,002,000 after acquiring an additional 751,569 shares during the period. Millennium Management LLC lifted its stake in shares of Vanda Pharmaceuticals by 220.0% in the 1st quarter. Millennium Management LLC now owns 2,139,591 shares of the biopharmaceutical company’s stock worth $9,821,000 after acquiring an additional 1,470,898 shares during the period. Krensavage Asset Management LLC lifted its stake in shares of Vanda Pharmaceuticals by 15.2% in the 3rd quarter. Krensavage Asset Management LLC now owns 1,180,388 shares of the biopharmaceutical company’s stock worth $5,890,000 after acquiring an additional 155,505 shares during the period. Finally, Empire Financial Management Company LLC lifted its stake in shares of Vanda Pharmaceuticals by 46.2% in the 4th quarter. Empire Financial Management Company LLC now owns 1,108,245 shares of the biopharmaceutical company’s stock worth $9,775,000 after acquiring an additional 350,154 shares during the period. 88.14% of the stock is owned by institutional investors and hedge funds.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders and rare diseases. The company’s research and development efforts center on sleep-wake regulation, mood disorders, and movement disorders. Vanda’s mission is to address unmet medical needs by advancing novel molecules through clinical trials and regulatory review.

Vanda’s flagship commercial product is Hetlioz (tasimelteon), a melatonin receptor agonist approved by the U.S.