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

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

Separately, Cantor Fitzgerald lifted their target price 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 $4.50 on Monday. The business’s 50-day simple moving average is $5.15 and its 200-day simple moving average is $5.16. Vanda Pharmaceuticals has a 52 week low of $3.30 and a 52 week high of $6.75. The firm has a market cap of $262.31 million, a price-to-earnings ratio of -56.25 and a beta of 0.77.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.08) EPS for the quarter. Vanda Pharmaceuticals had a negative net margin of 6.00% and a negative return on equity of 2.01%. The company had revenue of $50.47 million for the quarter. As a group, equities 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 bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in Vanda Pharmaceuticals by 4.7% during the first quarter. Acadian Asset Management LLC now owns 2,370,335 shares of the biopharmaceutical company’s stock worth $9,740,000 after purchasing an additional 107,203 shares during the period. Dimensional Fund Advisors LP lifted 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 worth $11,379,000 after buying an additional 292,172 shares during the period. Nantahala Capital Management LLC lifted 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 worth $9,003,000 after buying an additional 580,265 shares during the period. Profit Investment Management LLC boosted its stake 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 valued at $3,228,000 after buying an additional 351,000 shares in the last quarter. Finally, GSA Capital Partners LLP grew its position in Vanda Pharmaceuticals by 39.8% in the fourth quarter. GSA Capital Partners LLP now owns 567,756 shares of the biopharmaceutical company’s stock valued at $2,396,000 after acquiring an additional 161,737 shares during the period. 88.14% of the stock is 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.