Vanda Pharmaceuticals (VNDA) Price Target Increased to $40.00 by Analysts at Jefferies Financial Group

Vanda Pharmaceuticals (NASDAQ:VNDA) had its price objective upped by research analysts at Jefferies Financial Group from $30.00 to $40.00 in a report issued on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 24.57% from the company’s previous close.

A number of other research firms also recently issued reports on VNDA. Cantor Fitzgerald reissued a “hold” rating and issued a $26.00 price target on shares of Vanda Pharmaceuticals in a research note on Wednesday, October 3rd. Oppenheimer set a $29.00 price target on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, November 8th. Stifel Nicolaus set a $31.00 price target on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, November 8th. Citigroup increased their price target on shares of Vanda Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, October 16th. Finally, Zacks Investment Research raised shares of Vanda Pharmaceuticals from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Friday, October 12th. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $33.00.

Shares of NASDAQ:VNDA traded up $0.64 during midday trading on Tuesday, hitting $32.11. 10,750 shares of the stock traded hands, compared to its average volume of 610,243. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -91.29, a price-to-earnings-growth ratio of 3.41 and a beta of 0.86. Vanda Pharmaceuticals has a one year low of $13.30 and a one year high of $33.44.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.18. The firm had revenue of $49.13 million during the quarter, compared to the consensus estimate of $49.44 million. Vanda Pharmaceuticals had a net margin of 7.06% and a return on equity of 5.88%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) earnings per share. As a group, equities research analysts expect that Vanda Pharmaceuticals will post 0.21 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in VNDA. United Services Automobile Association bought a new position in shares of Vanda Pharmaceuticals during the third quarter valued at approximately $211,000. Trexquant Investment LP bought a new position in shares of Vanda Pharmaceuticals during the second quarter valued at approximately $212,000. NumerixS Investment Technologies Inc increased its stake in shares of Vanda Pharmaceuticals by 92.9% during the second quarter. NumerixS Investment Technologies Inc now owns 11,835 shares of the biopharmaceutical company’s stock valued at $227,000 after purchasing an additional 5,700 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of Vanda Pharmaceuticals during the second quarter valued at approximately $240,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Vanda Pharmaceuticals by 164.6% during the third quarter. Meeder Asset Management Inc. now owns 11,417 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 7,102 shares in the last quarter. 99.33% of the stock is owned by institutional investors and hedge funds.

About Vanda Pharmaceuticals

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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