Vanda Pharmaceuticals’ (VNDA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a report released on Monday morning, Marketbeat.com reports. The firm currently has a $20.00 target price on the biopharmaceutical company’s stock.

A number of other equities research analysts have also weighed in on VNDA. B. Riley Financial reissued a “buy” rating and set a $12.00 price objective (down from $17.00) on shares of Vanda Pharmaceuticals in a report on Monday, August 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research note on Friday, July 17th. Finally, Oppenheimer initiated coverage on Vanda Pharmaceuticals in a research report on Wednesday, September 23rd. They set an “outperform” rating and a $10.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.08.

Vanda Pharmaceuticals Stock Up 0.9%

VNDA stock opened at $4.56 on Monday. The firm has a 50 day moving average of $5.15 and a 200 day moving average of $5.94. The stock has a market capitalization of $275.70 million, a PE ratio of -0.98 and a beta of 0.69. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.01. Vanda Pharmaceuticals has a 52 week low of $4.27 and a 52 week high of $9.94.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.46). The company had revenue of $50.53 million for the quarter, compared to analysts’ expectations of $61.92 million. Vanda Pharmaceuticals had a negative return on equity of 49.81% and a negative net margin of 127.41%. Sell-side analysts forecast that Vanda Pharmaceuticals will post -3.02 earnings per share for the current year.

Institutional Trading of Vanda Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of VNDA. State Street Corp raised its holdings in shares of Vanda Pharmaceuticals by 16.6% during the second quarter. State Street Corp now owns 3,516,405 shares of the biopharmaceutical company’s stock worth $21,520,000 after purchasing an additional 500,843 shares during the last quarter. Syon Capital LLC acquired a new position in Vanda Pharmaceuticals during the second quarter valued at $125,000. Hsbc Holdings PLC lifted its position in Vanda Pharmaceuticals by 144.5% during the second quarter. Hsbc Holdings PLC now owns 94,988 shares of the biopharmaceutical company’s stock valued at $579,000 after purchasing an additional 56,133 shares during the period. Wellington Management Group LLP purchased a new stake in Vanda Pharmaceuticals in the second quarter valued at $220,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Vanda Pharmaceuticals in the second quarter valued at $749,000. 88.14% of the stock is currently owned by institutional investors and hedge funds.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing therapies for disorders of the central nervous system. The company was founded in 2003 and is headquartered in Washington, DC Its work centers on conditions involving sleep, circadian rhythms, and psychiatric health.

Vanda’s commercial products include Hetlioz (tasimelteon), a melatonin receptor agonist approved in the United States for Non-24-Hour Sleep-Wake Disorder and Smith-Magenis Syndrome, and Fanapt (iloperidone), an atypical antipsychotic used to treat schizophrenia in adults.