Cantor Fitzgerald Boosts Vanda Pharmaceuticals (NASDAQ:VNDA) Price Target to $13.00

Vanda Pharmaceuticals (NASDAQ:VNDA) had its target price upped by Cantor Fitzgerald from $11.00 to $13.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 130.09% from the company’s current price.

Separately, StockNews.com assumed coverage on Vanda Pharmaceuticals in a research report on Sunday. They set a “hold” rating on the stock.

Vanda Pharmaceuticals Price Performance

NASDAQ:VNDA traded down $0.19 during mid-day trading on Thursday, reaching $5.65. 714,155 shares of the company’s stock traded hands, compared to its average volume of 1,645,333. Vanda Pharmaceuticals has a 12-month low of $3.30 and a 12-month high of $6.75. The firm has a market capitalization of $328.83 million, a price-to-earnings ratio of -70.63 and a beta of 0.75. The company has a 50 day moving average price of $5.76 and a 200-day moving average price of $4.82.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). The firm had revenue of $47.46 million for the quarter, compared to the consensus estimate of $48.50 million. Vanda Pharmaceuticals had a negative net margin of 2.75% and a negative return on equity of 0.90%. As a group, analysts forecast that Vanda Pharmaceuticals will post -0.61 EPS for the current year.

Institutional Trading of Vanda Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Vanda Pharmaceuticals by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,824 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 2,425 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Vanda Pharmaceuticals by 4.3% in the 2nd quarter. Panagora Asset Management Inc. now owns 60,434 shares of the biopharmaceutical company’s stock worth $341,000 after purchasing an additional 2,509 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Vanda Pharmaceuticals by 65.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,045 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 4,387 shares in the last quarter. SageView Advisory Group LLC bought a new stake in shares of Vanda Pharmaceuticals in the 1st quarter worth approximately $34,000. Finally, Raymond James & Associates bought a new stake in shares of Vanda Pharmaceuticals in the 4th quarter worth approximately $42,000. 88.14% of the stock is owned by institutional investors.

Vanda Pharmaceuticals Company Profile

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.