HC Wainwright Initiates Coverage on Vanda Pharmaceuticals (NASDAQ:VNDA)

Stock analysts at HC Wainwright initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a report released on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $18.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 286.27% from the stock’s current price. HC Wainwright also issued estimates for Vanda Pharmaceuticals’ FY2024 earnings at ($0.48) EPS.

Other equities research analysts have also issued reports about the company. StockNews.com started coverage on Vanda Pharmaceuticals in a research note on Thursday, October 24th. They issued a “hold” rating for the company. Cantor Fitzgerald raised their price target on 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 Stock Up 0.2 %

Vanda Pharmaceuticals stock opened at $4.66 on Thursday. Vanda Pharmaceuticals has a 52-week low of $3.30 and a 52-week high of $6.75. The firm’s fifty day moving average is $4.83 and its 200 day moving average is $5.23. The company has a market cap of $271.63 million, a price-to-earnings ratio of -24.53 and a beta of 0.77.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its 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 net margin of 6.00% and a negative return on equity of 2.01%. On average, equities research analysts anticipate that Vanda Pharmaceuticals will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. grew its position in Vanda Pharmaceuticals by 39.6% in the 1st quarter. Sei Investments Co. now owns 518,851 shares of the biopharmaceutical company’s stock valued at $2,132,000 after acquiring an additional 147,066 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Vanda Pharmaceuticals in the 1st quarter worth about $1,158,000. Acadian Asset Management LLC lifted its holdings in Vanda Pharmaceuticals by 4.7% during the 1st 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 in the last quarter. Monaco Asset Management SAM bought a new position in Vanda Pharmaceuticals in the 2nd quarter worth about $1,090,000. Finally, Empowered Funds LLC increased its position in shares of Vanda Pharmaceuticals by 8.2% during the first quarter. Empowered Funds LLC now owns 201,283 shares of the biopharmaceutical company’s stock worth $827,000 after acquiring an additional 15,215 shares during the period. 88.14% of the stock is currently owned by hedge funds and other 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.