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

Research analysts at StockNews.com began coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a report issued on Monday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, Cantor Fitzgerald boosted their price target on shares of Vanda Pharmaceuticals from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st.

Vanda Pharmaceuticals Trading Down 3.2 %

Shares of NASDAQ VNDA opened at $4.54 on Monday. Vanda Pharmaceuticals has a 12-month low of $3.30 and a 12-month high of $6.75. The company has a market cap of $264.64 million, a PE ratio of -56.75 and a beta of 0.77. The stock has a 50 day simple moving average of $5.25 and a 200-day simple moving average of $5.17.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $50.47 million for the quarter. Vanda Pharmaceuticals had a negative return on equity of 2.01% and a negative net margin of 6.00%. Sell-side analysts forecast that Vanda Pharmaceuticals will post -0.49 earnings per share for the current fiscal year.

Institutional Trading of Vanda Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of Vanda Pharmaceuticals during the 2nd quarter valued at $39,000. SageView Advisory Group LLC purchased a new stake in shares of Vanda Pharmaceuticals during the first quarter valued at $34,000. SG Americas Securities LLC acquired a new position in shares of Vanda Pharmaceuticals in the 2nd quarter valued at $61,000. China Universal Asset Management Co. Ltd. increased its stake in Vanda Pharmaceuticals by 65.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,045 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 4,387 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Vanda Pharmaceuticals in the 2nd quarter worth about $75,000. Institutional investors own 88.14% of the company’s stock.

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.