Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $25.07 and last traded at $23.98, with a volume of 64946 shares changing hands. The stock had previously closed at $20.45.
The biopharmaceutical company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.18. The company had revenue of $49.13 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) earnings per share.
A number of equities analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Vanda Pharmaceuticals in a report on Thursday. They set a “buy” rating and a $26.00 price target on the stock. Zacks Investment Research lowered shares of Vanda Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. Oppenheimer set a $27.00 price target on shares of Vanda Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 2nd. Seaport Global Securities reissued a “buy” rating and set a $26.00 target price on shares of Vanda Pharmaceuticals in a research note on Thursday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.43.
The company has a market cap of $1.05 billion, a price-to-earnings ratio of -67.03 and a beta of 1.06.
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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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