StockNews.com Initiates Coverage on Vanda Pharmaceuticals (NASDAQ:VNDA)

Equities research analysts at StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

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

Vanda Pharmaceuticals Stock Performance

Shares of NASDAQ VNDA opened at $4.54 on Monday. Vanda Pharmaceuticals has a 1 year low of $3.30 and a 1 year high of $6.75. The stock’s 50-day simple moving average is $5.25 and its 200-day simple moving average is $5.17. The firm has a market cap of $264.64 million, a price-to-earnings ratio of -56.75 and a beta of 0.77.

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

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in VNDA. Nantahala Capital Management LLC boosted its holdings in Vanda Pharmaceuticals by 57.3% in the second quarter. Nantahala Capital Management LLC now owns 1,593,516 shares of the biopharmaceutical company’s stock worth $9,003,000 after purchasing an additional 580,265 shares during the period. Profit Investment Management LLC grew its position in shares of Vanda Pharmaceuticals by 159.3% during the 2nd quarter. Profit Investment Management LLC now owns 571,324 shares of the biopharmaceutical company’s stock valued at $3,228,000 after buying an additional 351,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Vanda Pharmaceuticals by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company’s stock worth $11,379,000 after acquiring an additional 292,172 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Vanda Pharmaceuticals during the first quarter worth about $1,158,000. Finally, Monaco Asset Management SAM bought a new position in Vanda Pharmaceuticals in the second quarter worth about $1,090,000. 88.14% of the stock is owned by institutional investors and hedge funds.

Vanda Pharmaceuticals Company Profile

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.