Vanda Pharmaceuticals (VNDA) Sets New 12-Month High Following Earnings Beat

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Shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $25.07 and last traded at $23.98, with a volume of 64946 shares trading hands. The stock had previously closed at $20.45.

The biopharmaceutical company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.18. The firm had revenue of $49.13 million during the quarter, compared to analyst estimates of $49.44 million. Vanda Pharmaceuticals had a net margin of 0.73% and a return on equity of 0.68%. Vanda Pharmaceuticals’s revenue was up 18.9% on a year-over-year basis. During the same period last year, the firm posted ($0.03) EPS.

VNDA has been the subject of several research analyst reports. Zacks Investment Research raised shares of Vanda Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research report on Sunday, July 15th. Cantor Fitzgerald initiated coverage on shares of Vanda Pharmaceuticals in a research report on Wednesday, August 22nd. They issued a “neutral” rating and a $26.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Vanda Pharmaceuticals in a research report on Thursday, September 13th. They issued a “buy” rating and a $30.00 price objective for the company. Citigroup increased their price objective on shares of Vanda Pharmaceuticals from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, October 16th. Finally, Oppenheimer began coverage on shares of Vanda Pharmaceuticals in a research report on Thursday, September 20th. They issued a “buy” rating and a $29.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Vanda Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $27.43.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its holdings in shares of Vanda Pharmaceuticals by 665.9% in the 1st quarter. Russell Investments Group Ltd. now owns 44,065 shares of the biopharmaceutical company’s stock valued at $742,000 after acquiring an additional 38,312 shares in the last quarter. UBS Group AG grew its holdings in Vanda Pharmaceuticals by 35.9% during the first quarter. UBS Group AG now owns 84,739 shares of the biopharmaceutical company’s stock worth $1,428,000 after purchasing an additional 22,382 shares during the period. Allianz Asset Management GmbH grew its holdings in Vanda Pharmaceuticals by 2.9% during the first quarter. Allianz Asset Management GmbH now owns 136,218 shares of the biopharmaceutical company’s stock worth $2,295,000 after purchasing an additional 3,903 shares during the period. Xact Kapitalforvaltning AB bought a new position in Vanda Pharmaceuticals during the second quarter worth about $240,000. Finally, Fox Run Management L.L.C. grew its holdings in Vanda Pharmaceuticals by 23.9% during the second quarter. Fox Run Management L.L.C. now owns 28,611 shares of the biopharmaceutical company’s stock worth $545,000 after purchasing an additional 5,516 shares during the period. 93.92% of the stock is owned by institutional investors.

The firm has a market capitalization of $1.05 billion, a P/E ratio of -68.03 and a beta of 1.06.

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About Vanda Pharmaceuticals (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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