StockNews.com assumed coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA – Free Report) in a report published on Monday. The firm issued a hold rating on the biopharmaceutical company’s stock.
Separately, Cantor Fitzgerald boosted their price objective on Vanda Pharmaceuticals from $11.00 to $13.00 and gave the company an overweight rating in a research report on Thursday, August 1st.
Check Out Our Latest Report on Vanda Pharmaceuticals
Vanda Pharmaceuticals Stock Performance
Vanda Pharmaceuticals (NASDAQ:VNDA – Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.12). The business had revenue of $47.46 million during the quarter, compared to the consensus estimate of $48.50 million. Vanda Pharmaceuticals had a negative return on equity of 2.01% and a negative net margin of 6.00%. As a group, analysts forecast that Vanda Pharmaceuticals will post -0.51 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Vanda Pharmaceuticals
Institutional investors and hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. boosted its stake in Vanda Pharmaceuticals by 352.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,658 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 5,186 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Vanda Pharmaceuticals during the first quarter valued at $34,000. Raymond James & Associates acquired a new position in shares of Vanda Pharmaceuticals during the fourth quarter valued at $42,000. Mackenzie Financial Corp acquired a new position in shares of Vanda Pharmaceuticals during the fourth quarter valued at $46,000. Finally, SG Americas Securities LLC acquired a new position in shares of Vanda Pharmaceuticals during the second quarter valued at $61,000. 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.
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