Vanda Pharmaceuticals' (VNDA) Buy Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright reaffirmed a “buy” rating on Vanda Pharmaceuticals with a $20 price target, implying roughly 338% upside from the reported $4.57 share price.
• Analyst sentiment is mixed but leans positive: six analysts rate the stock a Buy, two a Hold, and one a Sell, producing a “Moderate Buy” consensus and an average price target of $13.08.
• Vanda reported weaker-than-expected quarterly results, with an adjusted loss of $1.04 per share versus the $0.58 consensus estimate and revenue of $50.53 million versus $61.93 million expected.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They presently have a $20.00 price objective on the biopharmaceutical company's stock. HC Wainwright's price objective would suggest a potential upside of 338.12% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Vanda Pharmaceuticals in a report on Friday, July 17th. Oppenheimer assumed coverage on shares of Vanda Pharmaceuticals in a report on Wednesday, September 23rd. They set an "outperform" rating and a $10.00 price target on the stock. Finally, B. Riley Financial restated a "buy" rating and set a $12.00 price target (down from $17.00) on shares of Vanda Pharmaceuticals in a report on Monday, August 10th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.08.

Vanda Pharmaceuticals Stock Down 1.4%

Shares of Vanda Pharmaceuticals stock traded down $0.07 during midday trading on Monday, reaching $4.57. 58,642 shares of the company's stock traded hands, compared to its average volume of 1,529,976. The company has a market cap of $276.00 million, a price-to-earnings ratio of -0.99 and a beta of 0.69. The company's 50 day simple moving average is $5.19 and its 200 day simple moving average is $6.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.60 and a current ratio of 1.61. Vanda Pharmaceuticals has a 52 week low of $4.27 and a 52 week high of $9.94.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.46). The business had revenue of $50.53 million for the quarter, compared to the consensus estimate of $61.93 million. Vanda Pharmaceuticals had a negative net margin of 127.41% and a negative return on equity of 49.81%. Equities analysts expect that Vanda Pharmaceuticals will post -3.02 earnings per share for the current fiscal year.

Institutional Trading of Vanda Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Vanda Pharmaceuticals in the 2nd quarter worth $46,841,000. Renaissance Technologies LLC grew its position in Vanda Pharmaceuticals by 11.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,759,559 shares of the biopharmaceutical company's stock worth $25,979,000 after purchasing an additional 378,598 shares during the last quarter. State Street Corp grew its position in Vanda Pharmaceuticals by 16.6% in the 2nd quarter. State Street Corp now owns 3,516,405 shares of the biopharmaceutical company's stock worth $21,520,000 after purchasing an additional 500,843 shares during the last quarter. AIGH Capital Management LLC grew its position in Vanda Pharmaceuticals by 37.6% in the 1st quarter. AIGH Capital Management LLC now owns 2,750,000 shares of the biopharmaceutical company's stock worth $19,002,000 after purchasing an additional 751,569 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in Vanda Pharmaceuticals by 25.0% in the 1st quarter. Quantinno Capital Management LP now owns 327,193 shares of the biopharmaceutical company's stock worth $2,261,000 after purchasing an additional 65,391 shares during the last quarter. 88.14% of the stock is currently owned by institutional investors and hedge funds.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing therapies for disorders of the central nervous system. The company was founded in 2003 and is headquartered in Washington, DC Its work centers on conditions involving sleep, circadian rhythms, and psychiatric health.

Vanda's commercial products include Hetlioz (tasimelteon), a melatonin receptor agonist approved in the United States for Non-24-Hour Sleep-Wake Disorder and Smith-Magenis Syndrome, and Fanapt (iloperidone), an atypical antipsychotic used to treat schizophrenia in adults.