Vanda Pharmaceuticals (NASDAQ:VNDA) Earns Buy Rating from Analysts at Truist Financial

Truist Financial started coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research report released on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $18.00 price target on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on VNDA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, January 21st. UBS Group reissued a “buy” rating on shares of Vanda Pharmaceuticals in a research report on Monday, January 5th. Jefferies Financial Group upped their price objective on shares of Vanda Pharmaceuticals from $5.00 to $7.50 and gave the company a “hold” rating in a report on Wednesday, December 31st. Zacks Research cut shares of Vanda Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, December 17th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Vanda Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $14.90.

Vanda Pharmaceuticals Trading Down 0.3%

VNDA opened at $7.89 on Thursday. The firm has a market capitalization of $466.38 million, a price-to-earnings ratio of -2.12 and a beta of 0.55. The company’s 50 day simple moving average is $7.60 and its two-hundred day simple moving average is $6.02. Vanda Pharmaceuticals has a 1-year low of $3.81 and a 1-year high of $9.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.38.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Wednesday, February 11th. The biopharmaceutical company reported ($2.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.18) by ($0.21). Vanda Pharmaceuticals had a negative net margin of 102.02% and a negative return on equity of 23.85%. The company had revenue of $57.22 million during the quarter, compared to analysts’ expectations of $59.28 million. Analysts expect that Vanda Pharmaceuticals will post -1.12 EPS for the current fiscal year.

Insider Activity at Vanda Pharmaceuticals

In other Vanda Pharmaceuticals news, SVP Gunther Birznieks sold 42,431 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $8.27, for a total value of $350,904.37. Following the completion of the transaction, the senior vice president owned 494,197 shares in the company, valued at $4,087,009.19. The trade was a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kevin Patrick Moran sold 42,442 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $8.27, for a total value of $350,995.34. Following the sale, the chief financial officer directly owned 411,380 shares in the company, valued at $3,402,112.60. This represents a 9.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 314,342 shares of company stock worth $2,583,985 over the last 90 days. 10.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VNDA. Torren Management LLC purchased a new stake in Vanda Pharmaceuticals during the 4th quarter worth about $25,000. Russell Investments Group Ltd. grew its position in shares of Vanda Pharmaceuticals by 456.6% during the third quarter. Russell Investments Group Ltd. now owns 6,495 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 5,328 shares in the last quarter. CWM LLC grew its position in shares of Vanda Pharmaceuticals by 424.6% during the second quarter. CWM LLC now owns 9,359 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 7,575 shares in the last quarter. Quarry LP purchased a new stake in shares of Vanda Pharmaceuticals during the third quarter worth approximately $53,000. Finally, Cerity Partners LLC purchased a new stake in shares of Vanda Pharmaceuticals during the second quarter worth approximately $69,000. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders and rare diseases. The company’s research and development efforts center on sleep-wake regulation, mood disorders, and movement disorders. Vanda’s mission is to address unmet medical needs by advancing novel molecules through clinical trials and regulatory review.

Vanda’s flagship commercial product is Hetlioz (tasimelteon), a melatonin receptor agonist approved by the U.S.