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

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) – Analysts at Cantor Fitzgerald upped their FY2024 earnings per share estimates for shares of Vanda Pharmaceuticals in a research report issued on Monday, August 5th. Cantor Fitzgerald analyst C. Duncan now expects that the biopharmaceutical company will earn ($0.47) per share for the year, up from their previous forecast of ($0.51). Cantor Fitzgerald has a “Overweight” rating and a $13.00 price objective on the stock. The consensus estimate for Vanda Pharmaceuticals’ current full-year earnings is ($0.49) per share.

Separately, StockNews.com initiated coverage on Vanda Pharmaceuticals in a research report on Monday. They issued a “hold” rating for the company.

Vanda Pharmaceuticals Stock Up 2.1 %

Shares of NASDAQ VNDA opened at $5.31 on Wednesday. The stock has a market cap of $309.52 million, a PE ratio of -66.38 and a beta of 0.75. Vanda Pharmaceuticals has a 52-week low of $3.30 and a 52-week high of $6.75. The business has a 50-day moving average price of $5.79 and a 200 day moving average price of $4.88.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.12). The business had revenue of $47.46 million for the quarter, compared to analyst estimates of $48.50 million. Vanda Pharmaceuticals had a negative return on equity of 2.01% and a negative net margin of 6.00%.

Institutional Trading of Vanda Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates purchased a new position in shares of Vanda Pharmaceuticals during the 4th quarter worth approximately $42,000. Mackenzie Financial Corp purchased a new position in shares of Vanda Pharmaceuticals during the 4th quarter worth $46,000. Bailard Inc. purchased a new position in shares of Vanda Pharmaceuticals during the 4th quarter worth $111,000. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Vanda Pharmaceuticals during the 4th quarter worth $87,000. Finally, Aristides Capital LLC acquired a new stake in shares of Vanda Pharmaceuticals during the 4th quarter worth $272,000. 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.