Vanda Pharmaceuticals (NASDAQ:VNDA) Stock Rating Reaffirmed as “Buy” by HC Wainwright

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued on Monday, Marketbeat.com reports. They currently have a $20.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 342.48% from the stock’s current price.

A number of other equities analysts also recently commented on VNDA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research report on Friday, July 17th. B. Riley Financial reissued a “buy” rating and set a $12.00 price objective (down from $17.00) on shares of Vanda Pharmaceuticals in a research note on Monday, August 10th. Finally, Oppenheimer initiated coverage on Vanda Pharmaceuticals in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $10.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.08.

Vanda Pharmaceuticals Stock Down 1.3%

VNDA stock opened at $4.52 on Monday. The company has a market cap of $273.29 million, a price-to-earnings ratio of -0.98 and a beta of 0.69. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.01. Vanda Pharmaceuticals has a 12 month low of $4.27 and a 12 month high of $9.94. The firm has a 50-day moving average of $5.16 and a two-hundred day moving average of $5.97.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.46). The business had revenue of $50.53 million during the quarter, compared to analysts’ expectations of $61.92 million. Vanda Pharmaceuticals had a negative return on equity of 49.81% and a negative net margin of 127.41%. As a group, analysts forecast that Vanda Pharmaceuticals will post -3.02 earnings per share for the current fiscal year.

Institutional Trading of Vanda Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in VNDA. State Street Corp grew its position in Vanda Pharmaceuticals by 16.6% in the second quarter. State Street Corp now owns 3,516,405 shares of the biopharmaceutical company’s stock worth $21,520,000 after acquiring an additional 500,843 shares during the period. Syon Capital LLC purchased a new stake in Vanda Pharmaceuticals in the second quarter valued at $125,000. Hsbc Holdings PLC raised its position in Vanda Pharmaceuticals by 144.5% in the second quarter. Hsbc Holdings PLC now owns 94,988 shares of the biopharmaceutical company’s stock valued at $579,000 after purchasing an additional 56,133 shares during the period. Wellington Management Group LLP purchased a new stake in Vanda Pharmaceuticals in the second quarter valued at $220,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Vanda Pharmaceuticals in the 2nd quarter valued at $749,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing therapies for disorders of the central nervous system. The company was founded in 2003 and is headquartered in Washington, DC Its work centers on conditions involving sleep, circadian rhythms, and psychiatric health.

Vanda’s commercial products include Hetlioz (tasimelteon), a melatonin receptor agonist approved in the United States for Non-24-Hour Sleep-Wake Disorder and Smith-Magenis Syndrome, and Fanapt (iloperidone), an atypical antipsychotic used to treat schizophrenia in adults.