Vanda Pharmaceuticals (NASDAQ:VNDA) Now Covered by StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research report issued on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, Cantor Fitzgerald upped their price target on shares of Vanda Pharmaceuticals from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st.

Vanda Pharmaceuticals Stock Performance

VNDA opened at $4.74 on Wednesday. The business’s 50-day simple moving average is $4.95 and its 200 day simple moving average is $5.21. Vanda Pharmaceuticals has a 52-week low of $3.30 and a 52-week high of $6.75. The firm has a market capitalization of $276.00 million, a PE ratio of -24.92 and a beta of 0.77.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter. The company had revenue of $50.47 million for the quarter. Vanda Pharmaceuticals had a negative return on equity of 2.01% and a negative net margin of 6.00%. On average, research analysts forecast that Vanda Pharmaceuticals will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new position in shares of Vanda Pharmaceuticals during the 2nd quarter worth approximately $39,000. SageView Advisory Group LLC bought a new position in Vanda Pharmaceuticals during the first quarter worth $34,000. ORG Wealth Partners LLC acquired a new position in shares of Vanda Pharmaceuticals in the third quarter valued at $40,000. SG Americas Securities LLC acquired a new position in shares of Vanda Pharmaceuticals in the second quarter valued at $61,000. Finally, XTX Topco Ltd bought a new position in shares of Vanda Pharmaceuticals in the second quarter valued at about $75,000. 88.14% of the stock is currently owned by institutional investors.

About Vanda Pharmaceuticals

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