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

Equities research analysts at StockNews.com began coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note issued to investors on Thursday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Vanda Pharmaceuticals Stock Down 2.2 %

Shares of Vanda Pharmaceuticals stock opened at $5.24 on Thursday. Vanda Pharmaceuticals has a 12 month low of $3.30 and a 12 month high of $6.75. The business has a fifty day simple moving average of $5.46 and a 200 day simple moving average of $4.59. The stock has a market cap of $304.97 million, a PE ratio of -65.50 and a beta of 0.75.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.12). The company had revenue of $47.46 million for the quarter, compared to analyst estimates of $48.50 million. Vanda Pharmaceuticals had a negative return on equity of 0.90% and a negative net margin of 2.75%.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of hedge funds have recently modified their holdings of VNDA. China Universal Asset Management Co. Ltd. increased its position in shares of Vanda Pharmaceuticals by 352.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,658 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 5,186 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Vanda Pharmaceuticals in the 1st quarter worth $34,000. Raymond James & Associates acquired a new stake in shares of Vanda Pharmaceuticals in the 4th quarter valued at about $42,000. Mackenzie Financial Corp bought a new stake in shares of Vanda Pharmaceuticals in the fourth quarter valued at about $46,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Vanda Pharmaceuticals by 18.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,824 shares of the biopharmaceutical company’s stock valued at $66,000 after purchasing an additional 2,425 shares in the last quarter. Institutional investors and hedge funds 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.