Vanda Pharmaceuticals (NASDAQ:VNDA) Given New $13.00 Price Target at Cantor Fitzgerald

Vanda Pharmaceuticals (NASDAQ:VNDA) had its target price raised by Cantor Fitzgerald from $11.00 to $13.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Separately, StockNews.com assumed coverage on shares of Vanda Pharmaceuticals in a research report on Sunday, July 28th. They issued a hold rating for the company.

Vanda Pharmaceuticals Stock Performance

Shares of NASDAQ VNDA opened at $5.40 on Thursday. The company’s fifty day moving average price is $5.78 and its 200 day moving average price is $4.86. Vanda Pharmaceuticals has a 1 year low of $3.30 and a 1 year high of $6.75. The company has a market capitalization of $314.28 million, a PE ratio of -67.50 and a beta of 0.75.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings data 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 analysts’ expectations of $48.50 million. Vanda Pharmaceuticals had a negative net margin of 6.00% and a negative return on equity of 2.01%. On average, equities analysts expect that Vanda Pharmaceuticals will post -0.51 EPS for the current year.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of hedge funds have recently modified their holdings of VNDA. Raymond James & Associates acquired a new stake in Vanda Pharmaceuticals during the fourth quarter worth about $42,000. 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 valued at $28,000 after acquiring an additional 5,186 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Vanda Pharmaceuticals in the fourth quarter valued at approximately $46,000. Bailard Inc. purchased a new position in shares of Vanda Pharmaceuticals in the fourth quarter valued at approximately $111,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Vanda Pharmaceuticals in the fourth quarter valued at approximately $87,000. 88.14% of the stock is currently owned by institutional investors and hedge funds.

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.