Vanda Pharmaceuticals (NASDAQ:VNDA) Issues Quarterly Earnings Results

Vanda Pharmaceuticals (NASDAQ:VNDA) posted its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($2.39) earnings per share for the quarter, missing the consensus estimate of ($2.18) by ($0.21), FiscalAI reports. The firm had revenue of $57.22 million for the quarter, compared to the consensus estimate of $59.28 million. Vanda Pharmaceuticals had a negative return on equity of 16.82% and a negative net margin of 39.70%.

Here are the key takeaways from Vanda Pharmaceuticals’ conference call:

• Fanapt delivered strong commercial momentum — full-year net product sales rose 24% to $117.3M with TRX +28% and NBRX +149%, and management guided Fanapt $150M–$170M for 2026 (midpoint implying continued double?digit growth drivers).
• The FDA approved Nereus (tradipitant) for motion?induced vomiting (late 2025 approval) and Vanda expects commercial availability in late Q2/early Q3 2026, plus a planned Phase III program in H1 2026 to pursue label expansion for GLP?1–induced vomiting.
• The Bysanti (iloperidone) NDA is under FDA review with a PDUFA date of Feb 21, 2026; approval and a Q3 commercial supply plan would broaden Vanda’s psychiatry franchise and reduce gross?to?net headwinds over time.
• Vanda recorded a one?time, non?cash valuation allowance of $113.7M against deferred tax assets, contributing to a FY2025 net loss of $220.5M, cash of $263.8M (down ~$111M YoY), and the company expects 2026 cash burn to be greater than 2025 (plus near?term milestone payments of $10M and potential $5M).
• Late?stage pipeline progress includes an imsidolimab BLA for GPP (submitted, exclusivity into the late 2030s), ongoing Phase III programs for Bysanti adjunct MDD and iloperidone LAI (enrollment slower in Europe), and a Phase III SAD study started for VQW?765 — timelines and enrollment remain uncertain.

Vanda Pharmaceuticals Stock Up 0.1%

Shares of VNDA opened at $7.43 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.10 and a current ratio of 3.12. The stock has a market capitalization of $439.11 million, a price-to-earnings ratio of -5.23 and a beta of 0.62. Vanda Pharmaceuticals has a 52 week low of $3.81 and a 52 week high of $9.60. The stock has a fifty day moving average of $7.32 and a 200-day moving average of $5.67.

Analysts Set New Price Targets

Several brokerages recently issued reports on VNDA. B. Riley Financial boosted their price target on Vanda Pharmaceuticals from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Wall Street Zen raised Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a report on Wednesday, January 21st. HC Wainwright raised their price target on Vanda Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vanda Pharmaceuticals in a research report on Wednesday, December 17th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.63.

Institutional Trading of Vanda Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VNDA. Russell Investments Group Ltd. raised its holdings in shares of Vanda Pharmaceuticals by 456.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,495 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 5,328 shares during the last quarter. Quarry LP purchased a new stake in shares of Vanda Pharmaceuticals in the third quarter worth approximately $53,000. Cerity Partners LLC purchased a new stake in shares of Vanda Pharmaceuticals in the second quarter worth approximately $69,000. Boothbay Fund Management LLC bought a new position in shares of Vanda Pharmaceuticals in the third quarter valued at approximately $72,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Vanda Pharmaceuticals during the second quarter valued at approximately $75,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

Vanda Pharmaceuticals Company Profile

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.