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

StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note released on Sunday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

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

Vanda Pharmaceuticals Stock Performance

VNDA stock opened at $4.96 on Friday. The firm has a 50 day moving average price of $5.36 and a 200-day moving average price of $5.14. 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 $288.66 million, a price-to-earnings ratio of -62.00 and a beta of 0.77.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its holdings in shares of Vanda Pharmaceuticals by 4.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,370,335 shares of the biopharmaceutical company’s stock valued at $9,740,000 after acquiring an additional 107,203 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Vanda Pharmaceuticals by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company’s stock worth $11,379,000 after purchasing an additional 292,172 shares during the period. Nantahala Capital Management LLC raised its position in Vanda Pharmaceuticals by 57.3% in the 2nd 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 raised its position in Vanda Pharmaceuticals by 159.3% in the 2nd quarter. Profit Investment Management LLC now owns 571,324 shares of the biopharmaceutical company’s stock worth $3,228,000 after purchasing an additional 351,000 shares during the period. Finally, GSA Capital Partners LLP raised its position in Vanda Pharmaceuticals by 39.8% in the 4th quarter. GSA Capital Partners LLP now owns 567,756 shares of the biopharmaceutical company’s stock worth $2,396,000 after purchasing an additional 161,737 shares during the period. Institutional investors own 88.14% of the company’s stock.

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.