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

StockNews.com started coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research report report published on Thursday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

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

Vanda Pharmaceuticals Stock Up 0.7 %

Shares of NASDAQ VNDA opened at $4.55 on Thursday. Vanda Pharmaceuticals has a 12-month low of $3.30 and a 12-month high of $6.75. The firm has a market cap of $264.80 million, a PE ratio of -56.88 and a beta of 0.77. The company’s fifty day simple moving average is $4.90 and its 200 day simple moving average is $5.22.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter. Vanda Pharmaceuticals had a negative net margin of 6.00% and a negative return on equity of 2.01%. The business had revenue of $50.47 million during the quarter. On average, equities analysts predict that Vanda Pharmaceuticals will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Vanda Pharmaceuticals during the second quarter valued at about $39,000. SageView Advisory Group LLC bought a new position in shares of Vanda Pharmaceuticals during the first quarter valued at about $34,000. ORG Wealth Partners LLC bought a new position in shares of Vanda Pharmaceuticals during the third quarter valued at about $40,000. SG Americas Securities LLC bought a new position in shares of Vanda Pharmaceuticals during the second quarter valued at about $61,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Vanda Pharmaceuticals by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 4,374 shares in the last quarter. 88.14% of the stock is owned by institutional investors.

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.