Vanda Pharmaceuticals (NASDAQ:VNDA) Earns Buy Rating from HC Wainwright

Key Points

• HC Wainwright has reaffirmed a Buy rating for Vanda Pharmaceuticals (VNDA), setting a target price of $20.00, indicating a potential upside of 334.78% from the current stock close.
• Vanda Pharmaceuticals reported a loss of $0.46 per share for its last quarter, missing analysts' expectations, with revenues of $52.59 million compared to projected figures.
• Institutional investors hold 88.14% of Vanda Pharmaceuticals' stock, with significant recent increases in holdings from several investment firms.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $20.00 target price on the biopharmaceutical company's stock. HC Wainwright's price objective would suggest a potential upside of 331.50% from the stock's previous close.

A number of other equities analysts have also recently weighed in on VNDA. Wall Street Zen cut Vanda Pharmaceuticals from a "hold" rating to a "strong sell" rating in a report on Saturday, August 2nd. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.00 price target on shares of Vanda Pharmaceuticals in a report on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, Vanda Pharmaceuticals has an average rating of "Strong Buy" and a consensus price target of $16.50.

Vanda Pharmaceuticals Trading Up 0.5%

NASDAQ:VNDA traded up $0.03 during trading hours on Thursday, hitting $4.64. The company had a trading volume of 175,184 shares, compared to its average volume of 565,185. The company has a 50-day moving average of $4.61 and a 200 day moving average of $4.53. The company has a market cap of $273.88 million, a P/E ratio of -4.10 and a beta of 0.72. Vanda Pharmaceuticals has a 1 year low of $3.81 and a 1 year high of $5.55.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.12). The company had revenue of $52.59 million during the quarter, compared to analysts' expectations of $54.77 million. Vanda Pharmaceuticals had a negative net margin of 32.90% and a negative return on equity of 12.89%. Vanda Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts forecast that Vanda Pharmaceuticals will post -1.12 earnings per share for the current year.

Insider Transactions at Vanda Pharmaceuticals

In related news, Director Stephen Ray Mitchell sold 7,000 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $4.59, for a total transaction of $32,130.00. Following the transaction, the director owned 97,082 shares of the company's stock, valued at approximately $445,606.38. This represents a 6.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.90% of the company's stock.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Vanda Pharmaceuticals by 10.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,488,519 shares of the biopharmaceutical company's stock worth $11,920,000 after acquiring an additional 227,428 shares in the last quarter. Millennium Management LLC raised its position in Vanda Pharmaceuticals by 220.0% in the 1st quarter. Millennium Management LLC now owns 2,139,591 shares of the biopharmaceutical company's stock valued at $9,821,000 after purchasing an additional 1,470,898 shares in the last quarter. Geode Capital Management LLC raised its position in Vanda Pharmaceuticals by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,691,638 shares of the biopharmaceutical company's stock valued at $7,986,000 after purchasing an additional 77,997 shares in the last quarter. Krensavage Asset Management LLC raised its position in Vanda Pharmaceuticals by 35.9% in the 2nd quarter. Krensavage Asset Management LLC now owns 1,024,883 shares of the biopharmaceutical company's stock valued at $4,837,000 after purchasing an additional 270,502 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Vanda Pharmaceuticals by 13.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 929,644 shares of the biopharmaceutical company's stock valued at $4,267,000 after purchasing an additional 110,262 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.