Vanda Pharmaceuticals (NASDAQ:VNDA) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Vanda Pharmaceuticals (NASDAQ:VNDA) issued its earnings results on Wednesday. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.08, reports. The business had revenue of $47.65 million for the quarter, compared to the consensus estimate of $47.50 million. Vanda Pharmaceuticals had a negative net margin of 8.59% and a negative return on equity of 3.01%. Vanda Pharmaceuticals updated its FY 2024 guidance to EPS.

Vanda Pharmaceuticals Stock Performance

Shares of VNDA opened at $5.02 on Friday. The company has a 50-day moving average of $4.79 and a two-hundred day moving average of $5.23. Vanda Pharmaceuticals has a 12-month low of $3.30 and a 12-month high of $6.75.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Sei Investments Co. raised its position in shares of Vanda Pharmaceuticals by 39.6% in the first quarter. Sei Investments Co. now owns 518,851 shares of the biopharmaceutical company’s stock valued at $2,132,000 after buying an additional 147,066 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Vanda Pharmaceuticals in the first quarter valued at approximately $1,158,000. Acadian Asset Management LLC raised its position in shares of Vanda Pharmaceuticals by 4.7% in the first quarter. Acadian Asset Management LLC now owns 2,370,335 shares of the biopharmaceutical company’s stock valued at $9,740,000 after buying an additional 107,203 shares during the last quarter. Monaco Asset Management SAM acquired a new position in shares of Vanda Pharmaceuticals in the second quarter valued at approximately $1,090,000. Finally, Empowered Funds LLC raised its position in shares of Vanda Pharmaceuticals by 8.2% in the first quarter. Empowered Funds LLC now owns 201,283 shares of the biopharmaceutical company’s stock valued at $827,000 after buying an additional 15,215 shares during the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VNDA. HC Wainwright started coverage on shares of Vanda Pharmaceuticals in a report on Thursday, October 31st. They set a “buy” rating and a $18.00 price objective on the stock. StockNews.com started coverage on shares of Vanda Pharmaceuticals in a research report on Friday, November 1st. They set a “hold” rating for the company. Finally, Cantor Fitzgerald lifted their target price 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 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.