Brokers Issue Forecasts for VNDA FY2024 Earnings

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Free Report) - HC Wainwright issued their FY2024 earnings estimates for Vanda Pharmaceuticals in a research note issued on Thursday, October 31st. HC Wainwright analyst R. Selvaraju anticipates that the biopharmaceutical company will post earnings per share of ($0.48) for the year. HC Wainwright has a "Buy" rating and a $18.00 price target on the stock. The consensus estimate for Vanda Pharmaceuticals' current full-year earnings is ($0.49) per share.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last posted its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.08) EPS for the quarter. The firm had revenue of $50.47 million for the quarter. Vanda Pharmaceuticals had a negative return on equity of 2.01% and a negative net margin of 6.00%.

Other analysts have also issued research reports about the company. Cantor Fitzgerald increased their price objective on Vanda Pharmaceuticals from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. StockNews.com started coverage on shares of Vanda Pharmaceuticals in a research note on Friday. They set a "hold" rating on the stock.

Vanda Pharmaceuticals Stock Performance

NASDAQ:VNDA traded up $0.01 during mid-day trading on Friday, hitting $4.66. 300,297 shares of the company's stock traded hands, compared to its average volume of 1,318,267. Vanda Pharmaceuticals has a 1 year low of $3.30 and a 1 year high of $6.75. The firm's 50 day simple moving average is $4.84 and its 200 day simple moving average is $5.23.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several institutional investors have recently bought and sold shares of VNDA. Nantahala Capital Management LLC lifted its holdings in shares of Vanda Pharmaceuticals by 57.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,593,516 shares of the biopharmaceutical company's stock valued at $9,003,000 after acquiring an additional 580,265 shares in the last quarter. Profit Investment Management LLC lifted its stake in shares of Vanda Pharmaceuticals by 159.3% during the second quarter. Profit Investment Management LLC now owns 571,324 shares of the biopharmaceutical company's stock worth $3,228,000 after purchasing an additional 351,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Vanda Pharmaceuticals by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company's stock worth $11,379,000 after buying an additional 292,172 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Vanda Pharmaceuticals in the first quarter valued at about $1,158,000. Finally, Monaco Asset Management SAM purchased a new stake in shares of Vanda Pharmaceuticals during the 2nd quarter valued at about $1,090,000. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

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.