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

StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a report issued on Thursday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, Cantor Fitzgerald increased their price objective on shares of Vanda Pharmaceuticals from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st.

Vanda Pharmaceuticals Stock Performance

Shares of NASDAQ VNDA opened at $4.55 on Thursday. Vanda Pharmaceuticals has a 52-week low of $3.30 and a 52-week high of $6.75. The firm has a 50 day moving average price of $4.90 and a two-hundred day moving average price of $5.22. The stock has a market cap of $264.80 million, a P/E ratio of -56.88 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) earnings per share (EPS) for the quarter. Vanda Pharmaceuticals had a negative net margin of 6.00% and a negative return on equity of 2.01%. The business had revenue of $50.47 million during the quarter. Analysts predict that Vanda Pharmaceuticals will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Vanda Pharmaceuticals by 18.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,824 shares of the biopharmaceutical company’s stock worth $66,000 after buying an additional 2,425 shares during the period. Panagora Asset Management Inc. boosted its stake in Vanda Pharmaceuticals by 4.3% during the second quarter. Panagora Asset Management Inc. now owns 60,434 shares of the biopharmaceutical company’s stock worth $341,000 after acquiring an additional 2,509 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Vanda Pharmaceuticals by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 4,374 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Vanda Pharmaceuticals by 2.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 287,677 shares of the biopharmaceutical company’s stock worth $1,625,000 after acquiring an additional 5,994 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Vanda Pharmaceuticals during the second quarter worth $39,000. 88.14% of the stock is currently owned by institutional investors and hedge funds.

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.