Vanda Pharmaceuticals (NASDAQ:VNDA) Coverage Initiated at StockNews.com

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

Separately, Cantor Fitzgerald boosted their price target on 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

NASDAQ VNDA opened at $4.55 on Thursday. The stock has a 50-day moving average of $4.90 and a 200 day moving average of $5.22. The company has a market capitalization of $265.22 million, a price-to-earnings ratio of -23.95 and a beta of 0.77. Vanda Pharmaceuticals has a one year low of $3.30 and a one year high of $6.75.

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

Institutional Trading of Vanda Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in 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 worth $9,740,000 after acquiring an additional 107,203 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Vanda Pharmaceuticals by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company’s stock valued at $11,379,000 after purchasing an additional 292,172 shares during the last quarter. Nantahala Capital Management LLC increased its position in shares of Vanda Pharmaceuticals by 57.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,593,516 shares of the biopharmaceutical company’s stock valued at $9,003,000 after purchasing an additional 580,265 shares during the last quarter. Profit Investment Management LLC increased 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 purchasing an additional 351,000 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Vanda Pharmaceuticals by 39.6% during the 1st quarter. Sei Investments Co. now owns 518,851 shares of the biopharmaceutical company’s stock valued at $2,132,000 after purchasing an additional 147,066 shares during the last quarter. Institutional investors own 88.14% of the company’s stock.

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.