Vanda Pharmaceuticals’ (VNDA) Buy Rating Reaffirmed at HC Wainwright

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

Other research analysts have also recently issued reports about the company. 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 reiterated a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research report on Friday, July 17th. Finally, Oppenheimer initiated coverage on shares of Vanda Pharmaceuticals in a report on Wednesday, September 23rd. They set an “outperform” rating and a $10.00 price target for the company. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Vanda Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $13.08.

Vanda Pharmaceuticals Trading Down 1.1%

VNDA stock opened at $4.58 on Monday. Vanda Pharmaceuticals has a 1-year low of $4.27 and a 1-year high of $9.94. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $5.17 and its 200-day moving average is $6.00. The firm has a market cap of $276.91 million, a P/E ratio of -0.99 and a beta of 0.69.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($1.04) EPS 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 the consensus estimate of $61.92 million. Vanda Pharmaceuticals had a negative return on equity of 49.81% and a negative net margin of 127.41%. Equities analysts anticipate that Vanda Pharmaceuticals will post -3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several institutional investors have recently modified their holdings of VNDA. State Street Corp raised its stake 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 buying an additional 500,843 shares during the last quarter. Syon Capital LLC bought a new position in Vanda Pharmaceuticals in the second quarter valued at approximately $125,000. Hsbc Holdings PLC grew its holdings in Vanda Pharmaceuticals by 144.5% during the 2nd quarter. Hsbc Holdings PLC now owns 94,988 shares of the biopharmaceutical company’s stock worth $579,000 after acquiring an additional 56,133 shares during the period. Wellington Management Group LLP acquired a new stake in Vanda Pharmaceuticals during the 2nd quarter worth $220,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Vanda Pharmaceuticals during the 2nd quarter valued at $749,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

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.