Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)’s share price traded up 4.4% during mid-day trading on Thursday . The stock traded as high as $12.89 and last traded at $12.80, with a volume of 403,419 shares changing hands. The stock had previously closed at $12.26.

Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Vanda Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, August 2nd. Brean Capital set a $20.00 price objective on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, July 28th. Piper Jaffray Cos. reissued a “buy” rating and set a $16.00 price objective on shares of Vanda Pharmaceuticals in a research note on Thursday, July 28th. Finally, Jefferies Group reissued a “buy” rating on shares of Vanda Pharmaceuticals in a research note on Friday, June 10th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.83.

The company’s market cap is $560.96 million. The firm has a 50-day moving average price of $11.49 and a 200-day moving average price of $9.51.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.12. The company had revenue of $36.02 million for the quarter, compared to the consensus estimate of $36.03 million. The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.13) earnings per share. On average, analysts expect that Vanda Pharmaceuticals Inc. will post ($0.61) EPS for the current year.

An institutional investor recently raised its position in Vanda Pharmaceuticals stock. Bank of Montreal Can raised its stake in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) by 23.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,208,918 shares of the biopharmaceutical company’s stock after buying an additional 228,074 shares during the period. Bank of Montreal Can owned about 2.82% of Vanda Pharmaceuticals worth $11,255,000 as of its most recent filing with the SEC.

Vanda Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of pharmaceutical products for the treatment of central nervous system (CNS) disorders. The Company’s product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051.

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