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Vanda (VNDA) to Report Q1 Earnings: What's in the Cards?
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We expect investors to focus on the sales performance of Vanda Pharmaceuticals Inc.’s (VNDA - Free Report) portfolio of marketed drugs, Hetlioz, Fanapt and Ponvory, as well as updates on pipeline development and other regulatory developments when it reports first-quarter 2024 earnings.
Factors to Consider
Vanda records revenues from the sale of its three commercial products — Hetlioz, Fanapt and the newly acquired Ponvory (ponesimod).
Hetlioz is approved for the treatment of non-24-hour sleep-wake disorder and nighttime sleep disturbances in Smith-Magenis syndrome. Fanapt is approved for the treatment of schizophrenia. Earlier this month, the FDA approved Fanapt tablets for the acute treatment of manic or mixed episodes associated with bipolar I disorder in adults.
Hetlioz sales are likely to have decreased in the to-be-reported quarter owing to the at-risk launch of generic versions of the drug in the United States, which has had an adverse impact on Hetlioz sales performance during the last reported quarter and in entire 2023.
Fanapt net sales also declined year over year in the last reported quarter, a trend most likely to have continued in the soon-to-be-reported quarter.
Investors will be keen to know the progress on the launch plans for Fanapt in bipolar I disorder on the upcoming earnings call. It also remains to be seen whether the label expansion of Fanapt drove sales or not in the to-be reported quarter.
VNDA acquired the United States and Canada rights to Ponvory from Actelion Pharmaceuticals Limited, a subsidiary of Johnson & Johnson (JNJ - Free Report) , in December 2023.
JNJ gained approval for Ponvory as an oral treatment for adults with relapsing forms of multiple sclerosis in 2021.
In the last reported quarter, Ponvory’s net sales of $1.6 million reflected the sales generated during the period between the acquisition of the product and Dec 31, 2023. Investors will be keen to get an update on the sales performance of Ponvory, which represents a significant commercial opportunity, on the upcoming earnings call.
In the last reported quarter, Vanda’s operating expenses reduced owing to lower cost of goods sold and lower research and development as well as selling, general and administrative expenses, a trend that most likely continued in the soon-to-be-reported quarter.
Shares of VNDA have gained 9.7% year to date against the industry’s decline of 10.3%.
Image Source: Zacks Investment Research
Recent Developments
Earlier this week, Vanda announced that the United States Supreme Court had denied its petition for a writ of certiorari in the Hetlioz abbreviated new drug application litigation against Teva Pharmaceuticals USA, Inc., Apotex Inc. and Apotex Corp.
Teva and Apotex are looking to make a generic version of Hetlioz.
Earlier this month, Vanda’s board of directors unanimously rejected a potential acquisition bid by Future Pak, LLC wherein the latter proposed to acquire all the outstanding shares of VNDA.
The FDA issued a complete response letter to VNDA’s supplemental new drug application (“sNDA”) for Hetlioz in March 2024. The sNDA sought approval for Hetlioz for the treatment of insomnia, which is characterized by difficulties with sleep initiation.
We expect management to provide more updates on these recent events on the first-quarter earnings call.
Earnings Surprise History
Vanda has an impressive earnings surprise history, beating estimates in each of the trailing three quarters, the average surprise being 92.88%. In the last reported quarter, Vanda’s earnings beat estimates by 55.56%.
Our proven model does not conclusively predict an earnings beat for Vanda this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Vanda has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 5 cents per share.
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Sarepta Therapeutics (SRPT - Free Report) has an Earnings ESP of +108.99% and a Zacks Rank #2.
Shares of Sarepta Therapeutics have gained 21.5% in the year-to-date period. Earnings of Sarepta beat estimates in each of the last four quarters, delivering an average earnings surprise of 464.56%.
CytomX Therapeutics (CTMX - Free Report) has an Earnings ESP of +188.89% and a Zacks Rank #3.
CytomX Therapeutics’ stock has risen 8.4% year to date. CytomX beat earnings estimates in three of the last four quarters while missing the mark on one occasion. On average, CTMX delivered an earnings surprise of 57.94% in the last four quarters.
Image: Bigstock
Vanda (VNDA) to Report Q1 Earnings: What's in the Cards?
We expect investors to focus on the sales performance of Vanda Pharmaceuticals Inc.’s (VNDA - Free Report) portfolio of marketed drugs, Hetlioz, Fanapt and Ponvory, as well as updates on pipeline development and other regulatory developments when it reports first-quarter 2024 earnings.
Factors to Consider
Vanda records revenues from the sale of its three commercial products — Hetlioz, Fanapt and the newly acquired Ponvory (ponesimod).
Hetlioz is approved for the treatment of non-24-hour sleep-wake disorder and nighttime sleep disturbances in Smith-Magenis syndrome. Fanapt is approved for the treatment of schizophrenia. Earlier this month, the FDA approved Fanapt tablets for the acute treatment of manic or mixed episodes associated with bipolar I disorder in adults.
Hetlioz sales are likely to have decreased in the to-be-reported quarter owing to the at-risk launch of generic versions of the drug in the United States, which has had an adverse impact on Hetlioz sales performance during the last reported quarter and in entire 2023.
Fanapt net sales also declined year over year in the last reported quarter, a trend most likely to have continued in the soon-to-be-reported quarter.
Investors will be keen to know the progress on the launch plans for Fanapt in bipolar I disorder on the upcoming earnings call. It also remains to be seen whether the label expansion of Fanapt drove sales or not in the to-be reported quarter.
VNDA acquired the United States and Canada rights to Ponvory from Actelion Pharmaceuticals Limited, a subsidiary of Johnson & Johnson (JNJ - Free Report) , in December 2023.
JNJ gained approval for Ponvory as an oral treatment for adults with relapsing forms of multiple sclerosis in 2021.
In the last reported quarter, Ponvory’s net sales of $1.6 million reflected the sales generated during the period between the acquisition of the product and Dec 31, 2023. Investors will be keen to get an update on the sales performance of Ponvory, which represents a significant commercial opportunity, on the upcoming earnings call.
In the last reported quarter, Vanda’s operating expenses reduced owing to lower cost of goods sold and lower research and development as well as selling, general and administrative expenses, a trend that most likely continued in the soon-to-be-reported quarter.
Shares of VNDA have gained 9.7% year to date against the industry’s decline of 10.3%.
Image Source: Zacks Investment Research
Recent Developments
Earlier this week, Vanda announced that the United States Supreme Court had denied its petition for a writ of certiorari in the Hetlioz abbreviated new drug application litigation against Teva Pharmaceuticals USA, Inc., Apotex Inc. and Apotex Corp.
Teva and Apotex are looking to make a generic version of Hetlioz.
Earlier this month, Vanda’s board of directors unanimously rejected a potential acquisition bid by Future Pak, LLC wherein the latter proposed to acquire all the outstanding shares of VNDA.
The FDA issued a complete response letter to VNDA’s supplemental new drug application (“sNDA”) for Hetlioz in March 2024. The sNDA sought approval for Hetlioz for the treatment of insomnia, which is characterized by difficulties with sleep initiation.
We expect management to provide more updates on these recent events on the first-quarter earnings call.
Earnings Surprise History
Vanda has an impressive earnings surprise history, beating estimates in each of the trailing three quarters, the average surprise being 92.88%. In the last reported quarter, Vanda’s earnings beat estimates by 55.56%.
Vanda Pharmaceuticals Inc. Price and EPS Surprise
Vanda Pharmaceuticals Inc. price-eps-surprise | Vanda Pharmaceuticals Inc. Quote
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Vanda this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Vanda has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 5 cents per share.
Zacks Rank: Vanda currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Sarepta Therapeutics (SRPT - Free Report) has an Earnings ESP of +108.99% and a Zacks Rank #2.
Shares of Sarepta Therapeutics have gained 21.5% in the year-to-date period. Earnings of Sarepta beat estimates in each of the last four quarters, delivering an average earnings surprise of 464.56%.
CytomX Therapeutics (CTMX - Free Report) has an Earnings ESP of +188.89% and a Zacks Rank #3.
CytomX Therapeutics’ stock has risen 8.4% year to date. CytomX beat earnings estimates in three of the last four quarters while missing the mark on one occasion. On average, CTMX delivered an earnings surprise of 57.94% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.