Vanda Pharmaceuticals (NASDAQ:VNDA) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note issued on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, Cantor Fitzgerald lifted their price target on Vanda Pharmaceuticals from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st.

Vanda Pharmaceuticals Stock Down 1.2 %

VNDA stock opened at $5.02 on Friday. Vanda Pharmaceuticals has a fifty-two week low of $3.30 and a fifty-two week high of $6.75. The stock has a market cap of $292.15 million, a PE ratio of -62.75 and a beta of 0.77. The firm’s 50-day simple moving average is $5.52 and its 200 day simple moving average is $5.08.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter. The business had revenue of $50.47 million for the quarter. Vanda Pharmaceuticals had a negative net margin of 6.00% and a negative return on equity of 2.01%. Equities analysts forecast that Vanda Pharmaceuticals will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of hedge funds have recently made changes to their positions in VNDA. Price T Rowe Associates Inc. MD increased its stake 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 valued at $66,000 after acquiring an additional 2,425 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Vanda Pharmaceuticals by 4.3% during the second quarter. Panagora Asset Management Inc. now owns 60,434 shares of the biopharmaceutical company’s stock valued at $341,000 after acquiring an additional 2,509 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Vanda Pharmaceuticals by 65.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,045 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 4,387 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in shares of Vanda Pharmaceuticals by 2.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 287,677 shares of the biopharmaceutical company’s stock valued at $1,625,000 after acquiring an additional 5,994 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Vanda Pharmaceuticals during the second quarter valued at approximately $39,000. Institutional investors own 88.14% of the company’s stock.

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.