Vanda Pharmaceuticals (NASDAQ:VNDA) Issues Quarterly Earnings Results, Beats Expectations By $0.99 EPS

Vanda Pharmaceuticals (NASDAQ:VNDA) announced its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($1.45) by $0.99, Zacks reports. Vanda Pharmaceuticals had a negative net margin of 39.70% and a negative return on equity of 16.82%.

Vanda Pharmaceuticals Trading Up 0.1%

Shares of Vanda Pharmaceuticals stock traded up $0.01 during trading on Wednesday, hitting $7.43. The stock had a trading volume of 1,093,748 shares, compared to its average volume of 1,302,068. The stock has a 50 day simple moving average of $7.28 and a 200 day simple moving average of $5.66. The company has a quick ratio of 3.10, a current ratio of 3.12 and a debt-to-equity ratio of 0.01. Vanda Pharmaceuticals has a 1 year low of $3.81 and a 1 year high of $9.60. The company has a market capitalization of $439.11 million, a PE ratio of -5.23 and a beta of 0.62.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VNDA. HC Wainwright boosted their price target on Vanda Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a report on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a report on Wednesday, January 21st. Jefferies Financial Group lifted their price target on shares of Vanda Pharmaceuticals from $5.00 to $7.50 and gave the company a “hold” rating in a report on Wednesday, December 31st. UBS Group reissued a “buy” rating on shares of Vanda Pharmaceuticals in a report on Monday, January 5th. Finally, Wall Street Zen raised Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.63.

Institutional Trading of Vanda Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in VNDA. Millennium Management LLC boosted its holdings in Vanda Pharmaceuticals by 220.0% during the first 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. Marshall Wace LLP boosted its position in shares of Vanda Pharmaceuticals by 945.9% during the 2nd quarter. Marshall Wace LLP now owns 471,720 shares of the biopharmaceutical company’s stock valued at $2,227,000 after acquiring an additional 426,620 shares in the last quarter. Krensavage Asset Management LLC lifted its position in shares of Vanda Pharmaceuticals by 35.9% during the 2nd quarter. Krensavage Asset Management LLC now owns 1,024,883 shares of the biopharmaceutical company’s stock worth $4,837,000 after buying an additional 270,502 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Vanda Pharmaceuticals by 98.1% in the 4th quarter. JPMorgan Chase & Co. now owns 396,017 shares of the biopharmaceutical company’s stock valued at $3,493,000 after purchasing an additional 196,124 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in Vanda Pharmaceuticals in the third quarter valued at about $894,000. 88.14% of the stock is currently owned by institutional investors and hedge funds.

About Vanda Pharmaceuticals

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.