Vanda Pharmaceuticals (VNDA) Sees Strong Trading Volume

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) shares saw strong trading volume on Thursday . 34,671 shares were traded during mid-day trading, a decline of 95% from the previous session’s volume of 665,406 shares.The stock last traded at $23.05 and had previously closed at $22.80.

A number of equities analysts recently issued reports on the company. CIBC restated an “outperform” rating on shares of Vanda Pharmaceuticals in a report on Friday, September 21st. Oppenheimer assumed coverage on Vanda Pharmaceuticals in a report on Thursday, September 20th. They issued a “buy” rating and a $29.00 target price on the stock. BidaskClub upgraded Vanda Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 21st. Seaport Global Securities restated a “buy” rating and issued a $26.00 target price on shares of Vanda Pharmaceuticals in a report on Thursday, August 2nd. Finally, Stifel Nicolaus assumed coverage on Vanda Pharmaceuticals in a report on Thursday, September 13th. They issued a “buy” rating and a $30.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $25.75.

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -64.71 and a beta of 0.52.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its quarterly earnings results on Wednesday, August 1st. The biopharmaceutical company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Vanda Pharmaceuticals had a return on equity of 0.68% and a net margin of 0.73%. The business had revenue of $47.40 million for the quarter, compared to the consensus estimate of $47.28 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. Vanda Pharmaceuticals’s revenue for the quarter was up 12.6% compared to the same quarter last year. research analysts expect that Vanda Pharmaceuticals Inc. will post -0.02 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of Vanda Pharmaceuticals by 15.7% during the second quarter. Northern Trust Corp now owns 676,300 shares of the biopharmaceutical company’s stock valued at $12,884,000 after buying an additional 91,539 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Vanda Pharmaceuticals by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 214,370 shares of the biopharmaceutical company’s stock valued at $4,084,000 after buying an additional 9,796 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in shares of Vanda Pharmaceuticals by 20.0% during the second quarter. MetLife Investment Advisors LLC now owns 24,336 shares of the biopharmaceutical company’s stock valued at $464,000 after buying an additional 4,063 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Vanda Pharmaceuticals by 18.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 17,187 shares of the biopharmaceutical company’s stock valued at $327,000 after buying an additional 2,671 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Vanda Pharmaceuticals by 12.1% during the second quarter. Macquarie Group Ltd. now owns 2,555,004 shares of the biopharmaceutical company’s stock valued at $48,673,000 after buying an additional 276,057 shares in the last quarter. Institutional investors and hedge funds own 93.56% of the company’s stock.

Vanda Pharmaceuticals Company Profile (NASDAQ:VNDA)

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system disorders. The company's marketed products include HETLIOZ (tasimelteon), a product for the treatment of non-24-hour sleep-wake disorders; and Fanapt (iloperidone), a product for the treatment of schizophrenia.

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