AMZNprintsminutestrendsdividendsdrawdownsP/E 28.4macronarrativesvolatilitybuybackssentiment+0.8%marginsMSFTPMI 52.1momentumdividendsflowsPMI 52.1digeststhreadsvolatilityearnings callsvolumesβ 1.24breakoutsnewsflow2s10sliquidityheadlines−1.2%breakoutsnoiseGOOGLbuybacksrevisionstrendsPMI 52.1briefstickersnoiseGDPsentimentchattertranscriptsGOOGLsentimentvolatilitybuybacksMSFTwhispersMETAsessionsyield curves13FfuturesdowngradesPMI 52.1headlinesthe tapeflowsdowngradesfutures+0.8%earnings callstranscriptsclosesgammacatalystsrevisionsvolatilitysentimentchatter+2.41%earnings callssentimentfilingstrends10y 4.21%cyclesbuybackswiresspx 0dtewhisperstickersQ3trendsnewsflowearnings callsWTI 78.2sentimentnoisethreadsrumorsnarrativesFOMCconsensusestimatesmomentumYoY +18%tickersmomentumprintsβ 1.24revisions

momentumheadlines52w hipositioning2s10sfilingstrendsprintstrendsmacrocyclesnoise2s10smacroQ3narrativesheadlinesflowscyclesnarrativesspreadstranscriptsdowngradesupgradeswhisperswhispersminutesthe tapeNDXfuturesminutesyield curves52w hithe tapeFOMCcatalystsbriefsthe tapeNVDAguidancetrends52w hidrawdowns2s10swhispersmomentumdrawdownsbuybacks

PCEliquiditysentimentbreakoutsdowngradesP/E 28.4threadsAAPLSPXvolatilityNDXflowscyclesliquidityestimatesEPS 4.12

VNDA · NASDAQ · Biotechnology

Vanda Pharmaceuticals

Develops and commercializes specialty therapies across psychiatric, sleep, MS, and motion-sickness markets.

$5.29

After-hours close0.00 (0.00%)

At close$5.29(−2.76%)

Something off on this page? Send us feedback.

Profile

Vanda Pharmaceuticals Inc.VNDAHealth Care

Commercializes Fanapt, HETLIOZ, PONVORY, NEREUS, and newly approved BYSANTI while developing related specialty-drug programs. Sales are concentrated in the United States, managed as one reportable segment, and shaped by FDA review outcomes, generic HETLIOZ competition, payer behavior, and outsourced supply partners.

Builds and sells a specialty-drug portfolio rooted in CNS and pharmacogenetics-informed development. Commercial products include Fanapt for schizophrenia and bipolar I disorder, HETLIOZ for Non-24 and Smith-Magenis sleep disturbances, PONVORY for relapsing multiple sclerosis, NEREUS for motion-induced vomiting, and BYSANTI for bipolar I disorder and schizophrenia.

Keeps revenue concentrated in the United States and reports one segment covering therapy development and commercialization. The model relies on third parties for raw materials, manufacturing, warehousing, billing, collection, and distribution rather than owned facilities.

Extends from a founder-led research posture that uses genetics and genomics in discovery, trials, and commercialization. The business is shaped by FDA review outcomes, HETLIOZ generic competition and patent litigation, payer preferences for generics, and contracted supply partners.

Company facts

CEOMihael H. Polymeropoulos, M.D.

ListedApr 12, 2006

ExchangeNASDAQ

HeadquartersWashington, DC

CountryUnited States

Employees533

CIK0001347178

ISINUS9216591084

Key statistics

Market cap$318.1M

EPS (ttm)−$4.63

P/E (ttm)−1.14

ROE-85.0%

P/B1.45

P/S1.47

Dividend yield—

Beta0.78vs XLV 0.92

Year to date −35.9% · Average volume (30d) 950.8K

Analysts

Price target, next 12 months$21.00+297.0%Median of 19 analysts · vs the Aug 28 close

ConsensusBuy13 of 19 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $5.29

High$21.00+297.0%

Median$21.00+297.0%

Low$21.00+297.0%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
May 11, 2026	H.C. Wainwright	Target		$24	$21
Feb 23, 2026	H.C. Wainwright	Target		$22	$24
Jan 5, 2026	H.C. Wainwright	Target			$22
Dec 31, 2025	Jefferies	Reiterate	Hold		$7.50
Nov 5, 2025	B.Riley Financial	Target			$11

Earnings

EPS

Estimate−$0.72

ReportedDue Nov 4, 2026

Revenue

Estimate$69.3M

ReportedDue Nov 4, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 5, 2026Q2 FY26	−$0.58	−$1.04	−78.5%	$61.9M	$50.5M	−18.4%	+0.59%
May 6, 2026Q1 FY26	−$0.53	−$0.82	−54.7%	$55.0M	$51.7M	−5.9%	−14.11%
Feb 11, 2026Q4 FY25	−$2.18	−$0.46	+78.9%	$59.3M	$57.2M	−3.5%	−17.63%
Oct 29, 2025Q3 FY25	−$0.31	−$0.38	−22.6%	$59.3M	$56.3M	−5.1%	−20.15%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$50.0M	$52.6M	$56.3M	$57.2M	$51.7M	$50.5M
Gross profit	$46.5M	$48.1M	$53.3M	$53.4M	$46.6M	$47.0M
Operating income	−$44.5M	−$38.5M	−$31.3M	−$40.4M	−$50.2M	−$63.8M
Net income	−$29.5M	−$27.2M	−$22.6M	−$141.2M	−$48.6M	−$62.5M
Diluted EPS	−$0.50	−$0.46	−$0.38	−$2.39	−$0.82	−$1.04
Gross margin	93.0%	91.5%	94.7%	93.3%	90.0%	93.0%
Operating margin	-89.0%	-73.2%	-55.6%	-70.5%	-97.1%	-126.3%

Fiscal years (4-quarter sums)FY21 $268.7M · FY22 $254.4M · FY23 $192.6M · FY24 $198.8M · FY25 $216.1M

Revenue by product · Q2 FY26

Fanapt$36.0M · 87%

Hetlioz$5.6M · 13%

Balance sheet, Jun 30, 2026Cash & short-term investments $170.0M · Total debt $22.8M · Total assets $412.5M · Shareholders' equity $220.2M

Dividends

No dividends on record.

Ownership

Institutions 83.70%50.33M sharesInsiders 9.10%5.47M sharesOther 7.20%4.33M shares

Shares outstanding 60.14M · Float 53.84M · 89.5% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
BlackRock, Inc.	7.65M	12.73%	13F	Aug 7, 2026
State Street Corp	3.52M	5.85%	13F	Aug 7, 2026
AQR Capital Management LLC	3.50M	5.82%	13F	Aug 14, 2026
Renaissance Technologies LLC	3.44M	5.72%	13F	Aug 13, 2026
Millennium Management LLC	3.38M	5.60%	13G	Aug 19, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Mar 2, 2026	Gunther Birznieks	officer: SVP, Business Development	−42,431	$8.27
Mar 2, 2026	Mihael Hristos Polymeropoulos	director, officer, other: President and CEO	−156,235	$8.17
Mar 2, 2026	Joakim Wijkstrom	officer: SVP, Chief Marketing Officer	−30,800	$8.27
Mar 2, 2026	Kevin Patrick Moran	officer: SVP, CFO & Treasurer	−42,442	$8.27
Mar 2, 2026	Timothy Williams	officer: SVP & General Counsel	−42,434	$8.27