FY2024 Earnings Forecast for Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Issued By Cantor Fitzgerald

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) – Stock analysts at Cantor Fitzgerald lowered their FY2024 earnings estimates for Vanda Pharmaceuticals in a report issued on Wednesday, July 24th. Cantor Fitzgerald analyst C. Duncan now anticipates that the biopharmaceutical company will earn ($0.61) per share for the year, down from their prior forecast of ($0.23). Cantor Fitzgerald currently has a “Overweight” rating and a $11.00 price objective on the stock. The consensus estimate for Vanda Pharmaceuticals’ current full-year earnings is ($0.23) per share.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). The business had revenue of $47.46 million during the quarter, compared to the consensus estimate of $48.50 million. Vanda Pharmaceuticals had a negative return on equity of 0.90% and a negative net margin of 2.75%.

Separately, StockNews.com initiated coverage on shares of Vanda Pharmaceuticals in a research note on Saturday, July 20th. They issued a “hold” rating on the stock.

Vanda Pharmaceuticals Stock Performance

Shares of NASDAQ:VNDA opened at $6.15 on Friday. The firm has a market cap of $357.93 million, a price-to-earnings ratio of -76.88 and a beta of 0.75. The firm has a fifty day moving average price of $5.70 and a 200 day moving average price of $4.77. Vanda Pharmaceuticals has a fifty-two week low of $3.30 and a fifty-two week high of $6.75.

Institutional Trading of Vanda Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in Vanda Pharmaceuticals by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 257,995 shares of the biopharmaceutical company’s stock worth $1,458,000 after purchasing an additional 20,721 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Vanda Pharmaceuticals in the 2nd quarter worth $61,000. Profit Investment Management LLC increased its holdings in shares of Vanda Pharmaceuticals by 159.3% in the 2nd quarter. Profit Investment Management LLC now owns 571,324 shares of the biopharmaceutical company’s stock worth $3,228,000 after buying an additional 351,000 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Vanda Pharmaceuticals during the 1st quarter valued at about $193,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Vanda Pharmaceuticals by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,824 shares of the biopharmaceutical company’s stock valued at $66,000 after purchasing an additional 2,425 shares during the last quarter. 88.14% of the stock is owned by hedge funds and other institutional investors.

Vanda Pharmaceuticals Company Profile

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.