Vanda Pharmaceuticals (NASDAQ:VNDA) posted its earnings results on Wednesday. The biopharmaceutical company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.18, Briefing.com reports. Vanda Pharmaceuticals had a net margin of 0.73% and a return on equity of 0.68%. The firm had revenue of $49.13 million for the quarter, compared to the consensus estimate of $49.44 million. During the same period in the previous year, the firm posted ($0.03) EPS. The business’s quarterly revenue was up 18.9% on a year-over-year basis. Vanda Pharmaceuticals updated its FY 2018 guidance to EPS.
Shares of VNDA stock traded up $3.01 during trading hours on Thursday, reaching $23.46. 1,937,092 shares of the stock were exchanged, compared to its average volume of 689,217. Vanda Pharmaceuticals has a 12-month low of $11.90 and a 12-month high of $25.07. The stock has a market cap of $1.05 billion, a PE ratio of -67.03 and a beta of 1.06.
Several hedge funds have recently added to or reduced their stakes in VNDA. Trexquant Investment LP purchased a new stake in Vanda Pharmaceuticals in the 2nd quarter valued at about $212,000. Hartford Investment Management Co. purchased a new stake in Vanda Pharmaceuticals in the 2nd quarter valued at about $214,000. Meeder Asset Management Inc. boosted its position in Vanda Pharmaceuticals by 164.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,417 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 7,102 shares during the period. NumerixS Investment Technologies Inc boosted its position in Vanda Pharmaceuticals by 92.9% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 11,835 shares of the biopharmaceutical company’s stock valued at $227,000 after buying an additional 5,700 shares during the period. Finally, Piedmont Investment Advisors Inc. boosted its position in Vanda Pharmaceuticals by 1,255.3% in the 3rd quarter. Piedmont Investment Advisors Inc. now owns 12,089 shares of the biopharmaceutical company’s stock valued at $277,000 after buying an additional 11,197 shares during the period. 93.92% of the stock is owned by hedge funds and other institutional investors.
About Vanda Pharmaceuticals
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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