Vanda Pharmaceuticals (NASDAQ:VNDA) Posts Quarterly Earnings Results, Beats Expectations By $0.99 EPS

Vanda Pharmaceuticals (NASDAQ:VNDA) released its earnings results on Wednesday. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.99, Zacks reports. Vanda Pharmaceuticals had a negative return on equity of 16.82% and a negative net margin of 39.70%.

Vanda Pharmaceuticals Stock Up 0.1%

VNDA stock traded up $0.01 during midday trading on Wednesday, hitting $7.43. The company’s stock had a trading volume of 1,093,748 shares, compared to its average volume of 1,302,068. The company’s fifty day moving average price is $7.28 and its 200 day moving average price is $5.66. Vanda Pharmaceuticals has a twelve month low of $3.81 and a twelve month high of $9.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.12 and a quick ratio of 3.10. The stock has a market capitalization of $439.11 million, a P/E ratio of -5.23 and a beta of 0.62.

Analyst Ratings Changes

Several research analysts have recently issued reports on VNDA shares. UBS Group reaffirmed a “buy” rating on shares of Vanda Pharmaceuticals in a research note on Monday, January 5th. Jefferies Financial Group upped their target price on shares of Vanda Pharmaceuticals from $5.00 to $7.50 and gave the company a “hold” rating in a research report on Wednesday, December 31st. B. Riley Financial increased their price target on Vanda Pharmaceuticals from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, December 17th. Finally, HC Wainwright increased their target price on shares of Vanda Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Vanda Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $13.63.

Institutional Trading of Vanda Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in Vanda Pharmaceuticals by 456.6% during the third quarter. Russell Investments Group Ltd. now owns 6,495 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 5,328 shares during the last quarter. Quarry LP bought a new position in Vanda Pharmaceuticals during the third quarter worth about $53,000. Boothbay Fund Management LLC bought a new stake in Vanda Pharmaceuticals in the 3rd quarter valued at about $72,000. Cerity Partners LLC bought a new position in shares of Vanda Pharmaceuticals during the second quarter worth approximately $69,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Vanda Pharmaceuticals in the second quarter valued at approximately $75,000. 88.14% of the stock is owned by institutional investors.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders and rare diseases. The company’s research and development efforts center on sleep-wake regulation, mood disorders, and movement disorders. Vanda’s mission is to address unmet medical needs by advancing novel molecules through clinical trials and regulatory review.

Vanda’s flagship commercial product is Hetlioz (tasimelteon), a melatonin receptor agonist approved by the U.S.