StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA – Free Report) in a research note published on Wednesday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.
Separately, Cantor Fitzgerald lifted their price target on shares of Vanda Pharmaceuticals from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st.
Check Out Our Latest Report on Vanda Pharmaceuticals
Vanda Pharmaceuticals Stock Up 2.1 %
Vanda Pharmaceuticals (NASDAQ:VNDA – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.08) EPS for the quarter. Vanda Pharmaceuticals had a negative net margin of 6.00% and a negative return on equity of 2.01%. The firm had revenue of $50.47 million during the quarter. Research analysts predict that Vanda Pharmaceuticals will post -0.49 EPS for the current fiscal year.
Hedge Funds Weigh In On Vanda Pharmaceuticals
A number of institutional investors and hedge funds have recently bought and sold shares of VNDA. Nantahala Capital Management LLC increased its position in Vanda Pharmaceuticals by 57.3% during the second quarter. Nantahala Capital Management LLC now owns 1,593,516 shares of the biopharmaceutical company’s stock worth $9,003,000 after acquiring an additional 580,265 shares during the period. Profit Investment Management LLC increased its position in Vanda Pharmaceuticals by 159.3% during the second quarter. Profit Investment Management LLC now owns 571,324 shares of the biopharmaceutical company’s stock worth $3,228,000 after acquiring an additional 351,000 shares during the period. Dimensional Fund Advisors LP increased its position in Vanda Pharmaceuticals by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company’s stock worth $11,379,000 after acquiring an additional 292,172 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Vanda Pharmaceuticals during the first quarter worth $1,158,000. Finally, Monaco Asset Management SAM bought a new position in Vanda Pharmaceuticals during the second quarter worth $1,090,000. Institutional investors own 88.14% of the company’s stock.
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.
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