Vanda Pharmaceuticals (NASDAQ:VNDA) Upgraded to Buy at UBS Group

Vanda Pharmaceuticals (NASDAQ:VNDA) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a report released on Thursday, The Fly reports. The firm presently has a $14.00 price objective on the biopharmaceutical company’s stock. UBS Group’s price target would indicate a potential upside of 38.82% from the stock’s previous close.

Several other equities research analysts have also recently commented on VNDA. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Vanda Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Thursday. BidaskClub raised shares of Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, ValuEngine raised shares of Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, October 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $15.00.

Shares of Vanda Pharmaceuticals stock opened at $10.09 on Thursday. Vanda Pharmaceuticals has a 52-week low of $7.12 and a 52-week high of $17.85. The stock has a market capitalization of $551.16 million, a price-to-earnings ratio of 4.83 and a beta of 0.48. The company’s 50 day moving average price is $10.07 and its 200-day moving average price is $10.93.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its earnings results on Wednesday, October 28th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. Vanda Pharmaceuticals had a net margin of 47.31% and a return on equity of 27.43%. Analysts forecast that Vanda Pharmaceuticals will post 0.31 earnings per share for the current year.

In other Vanda Pharmaceuticals news, SVP Timothy Williams sold 3,684 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $11.81, for a total transaction of $43,508.04. Following the completion of the transaction, the senior vice president now owns 79,356 shares of the company’s stock, valued at $937,194.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Joakim Wijkstrom sold 3,710 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $11.08, for a total transaction of $41,106.80. Following the transaction, the chief marketing officer now directly owns 56,290 shares of the company’s stock, valued at approximately $623,693.20. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. purchased a new stake in shares of Vanda Pharmaceuticals during the first quarter valued at approximately $28,000. Diversified Trust Co purchased a new stake in shares of Vanda Pharmaceuticals during the third quarter valued at approximately $99,000. Pacer Advisors Inc. grew its holdings in shares of Vanda Pharmaceuticals by 109.0% during the third quarter. Pacer Advisors Inc. now owns 10,817 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 5,641 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Vanda Pharmaceuticals by 147.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,575 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 5,699 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Vanda Pharmaceuticals during the second quarter valued at approximately $136,000.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs. The company's marketed products include HETLIOZ for the treatment of non-24-hour sleep-wake disorders; and Fanapt for the treatment of schizophrenia.

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