Brokerages Set Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Price Target at $14.30

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $14.30.

Several research analysts have issued reports on the company. Zacks Research lowered Vanda Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. HC Wainwright dropped their price objective on Vanda Pharmaceuticals from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Wall Street Zen lowered Vanda Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a report on Monday, April 20th. Finally, Truist Financial began coverage on Vanda Pharmaceuticals in a report on Thursday, March 5th. They set a “buy” rating and a $18.00 price objective for the company.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of Vanda Pharmaceuticals by 11.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,759,559 shares of the biopharmaceutical company’s stock valued at $25,979,000 after acquiring an additional 378,598 shares during the period. Vanguard Group Inc. increased its position in shares of Vanda Pharmaceuticals by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,587,139 shares of the biopharmaceutical company’s stock valued at $17,900,000 after acquiring an additional 14,336 shares during the period. AIGH Capital Management LLC increased its position in shares of Vanda Pharmaceuticals by 37.6% in the 1st quarter. AIGH Capital Management LLC now owns 2,750,000 shares of the biopharmaceutical company’s stock valued at $19,002,000 after acquiring an additional 751,569 shares during the period. Millennium Management LLC increased its position in shares of Vanda Pharmaceuticals by 220.0% in the 1st quarter. Millennium Management LLC now owns 2,139,591 shares of the biopharmaceutical company’s stock valued at $9,821,000 after acquiring an additional 1,470,898 shares during the period. Finally, Krensavage Asset Management LLC increased its position in shares of Vanda Pharmaceuticals by 15.2% in the 3rd quarter. Krensavage Asset Management LLC now owns 1,180,388 shares of the biopharmaceutical company’s stock valued at $5,890,000 after acquiring an additional 155,505 shares during the period. 88.14% of the stock is owned by institutional investors and hedge funds.

Vanda Pharmaceuticals Trading Down 0.7%

Shares of NASDAQ VNDA opened at $6.09 on Friday. The business’s 50 day moving average is $6.75 and its two-hundred day moving average is $6.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.16 and a quick ratio of 2.15. Vanda Pharmaceuticals has a 1-year low of $4.14 and a 1-year high of $9.94. The stock has a market capitalization of $366.19 million, a P/E ratio of -1.50 and a beta of 0.62.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.13). Vanda Pharmaceuticals had a negative return on equity of 32.26% and a negative net margin of 109.99%.The company had revenue of $51.72 million for the quarter, compared to the consensus estimate of $54.98 million. As a group, research analysts expect that Vanda Pharmaceuticals will post -2.27 EPS for the current year.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders and rare diseases. The company’s research and development efforts center on sleep-wake regulation, mood disorders, and movement disorders. Vanda’s mission is to address unmet medical needs by advancing novel molecules through clinical trials and regulatory review.

Vanda’s flagship commercial product is Hetlioz (tasimelteon), a melatonin receptor agonist approved by the U.S.