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

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

Separately, Cantor Fitzgerald initiated coverage on shares of Vanda Pharmaceuticals in a research note on Thursday. They issued an overweight rating and a $11.00 price target on the stock.

Vanda Pharmaceuticals Stock Up 2.1 %

VNDA stock opened at $5.92 on Friday. Vanda Pharmaceuticals has a 52-week low of $3.30 and a 52-week high of $6.75. The stock has a market cap of $344.54 million, a price-to-earnings ratio of -74.00 and a beta of 0.75. The business has a fifty day moving average of $5.53 and a two-hundred day moving average of $4.65.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The business had revenue of $47.46 million for the quarter, compared to analysts’ expectations of $48.50 million. Vanda Pharmaceuticals had a negative return on equity of 0.90% and a negative net margin of 2.75%. As a group, sell-side analysts anticipate that Vanda Pharmaceuticals will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its stake in Vanda Pharmaceuticals by 352.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,658 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 5,186 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Vanda Pharmaceuticals in the 1st quarter valued at about $34,000. Raymond James & Associates purchased a new stake in Vanda Pharmaceuticals during the fourth quarter worth about $42,000. Mackenzie Financial Corp acquired a new stake in shares of Vanda Pharmaceuticals during the fourth quarter worth about $46,000. Finally, SG Americas Securities LLC purchased a new position in shares of Vanda Pharmaceuticals in the second quarter valued at approximately $61,000. 88.14% of the stock is 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.