VNDA Chart
About

Vanda Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs worldwide. The company's commercial portfolio includes Fanapt for the acute treatment of manic or mixed episodes associated with bipolar I disorder and the treatment of schizophrenia; HETLIOZ to treat non-24-hour sleep-wake disorders and nighttime sleep disturbances; PONVORY to treat relapsing forms of multiple sclerosis; and NEREUSTM for preventing vomiting induced by motion. It also develops Fanapt (iloperidone), a long acting injectable (LAI) formulation for the treatment of schizophrenia and hypertension; BysantiTM (milsaperidone), for the acute treatment of manic or mixed episodes associated with bipolar I disorder, and for the treatment of schizophrenia and major depressive disorder; HETLIOZ (tasimelteon) to treat jet lag disorder, insomnia, pediatric insomnia, delayed sleep phase disorder, and pediatric Non-24; PONVORY (ponesimod) to treat psoriasis and ulcerative colitis; and NEREUSTM (tradipitant) for prevention of vomiting induced by GLP-1 receptor agonists, as well as treatment of gastroparesis and atopic dermatitis. In addition, the company's products include Imsidolimab, an IL-36R antagonist to treat generalized pustular psoriasis; VTR-297, for the treatment of hematologic malignancies and onychomycosis, and several oncology indications; and VQW-765, small molecule alpha-7 nicotinic acetylcholine receptor partial agonist for the treatment of social/performance anxiety and psychiatric disorders. Further, it develops cystic fibrosis transmembrane conductance regulator activators and inhibitors; and antisense oligonucleotide molecules. The company was incorporated in 2002 and is headquartered in Washington, the District of Columbia.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Biotechnology Market Cap 482.91M
Enterprise Value 231.69M Income -220.47M Sales 216.10M
Book/sh 5.54 Cash/sh 4.46 Dividend Yield —
Payout 0.00% Employees 533 IPO —
P/E — Forward P/E 40.85 PEG —
P/S 2.23 P/B 1.48 P/C —
EV/EBITDA -1.62 EV/Sales 1.07 Quick Ratio 2.19
Current Ratio 2.39 Debt/Eq 3.86 LT Debt/Eq —
EPS (ttm) -3.74 EPS next Y 0.20 EPS Growth —
Revenue Growth 7.60% Earnings 2026-05-06 ROA -16.50%
ROE -50.93% ROIC — Gross Margin 93.96%
Oper. Margin -70.53% Profit Margin -102.02% Shs Outstand 59.11M
Shs Float 52.69M Short Float 5.66% Short Ratio 1.28
Short Interest — 52W High 9.60 52W Low 3.81
Beta 0.58 Avg Volume 1.79M Volume 7.50M
Target Price $14.88 Recom Strong_buy Prev Close $8.15
Price $8.17 Change 0.25%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$14.88
Mean price target
2. Current target
$8.17
Latest analyst target
3. DCF / Fair value
$-15.03
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$8.17
Low
$7.50
High
$24.00
Mean
$14.88

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-23 main HC Wainwright & Co. Buy → Buy $24
2026-01-05 main HC Wainwright & Co. Buy → Buy $22
2025-12-31 main B. Riley Securities Buy → Buy $14
2025-12-31 main Jefferies Hold → Hold $8
2025-11-19 reit HC Wainwright & Co. Buy → Buy $20
2025-11-05 init B. Riley Securities — → Buy $11
2025-10-30 main Cantor Fitzgerald Overweight → Overweight $11
2025-08-21 reit HC Wainwright & Co. Buy → Buy $20
2025-05-07 reit HC Wainwright & Co. Buy → Buy $20
2025-04-01 reit HC Wainwright & Co. Buy → Buy $20
2025-02-18 main HC Wainwright & Co. Buy → Buy $20
2025-02-04 reit HC Wainwright & Co. Buy → Buy $18
2025-01-28 reit HC Wainwright & Co. Buy → Buy $18
2025-01-21 reit HC Wainwright & Co. Buy → Buy $18
2024-12-23 reit HC Wainwright & Co. Buy → Buy $18
2024-10-31 init HC Wainwright & Co. — → Buy $18
2024-08-01 main Cantor Fitzgerald Overweight → Overweight $13
2024-07-11 init Cantor Fitzgerald — → Overweight $11
2022-02-25 down Jefferies Buy → Hold $12
2021-05-12 init B of A Securities — → Buy $22
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 525000 — — Stock Award(Grant) at price 0.00 per share. POLYMEROPOULOS MIHAEL HRISTOS Chief Executive Officer — 2026-02-18 00:00:00 D
1 125000 — — Stock Award(Grant) at price 0.00 per share. BIRZNIEKS GUNTHER Officer — 2026-02-18 00:00:00 D
2 125000 — — Stock Award(Grant) at price 0.00 per share. WILLIAMS TIMOTHY IAN General Counsel — 2026-02-18 00:00:00 D
3 125000 — — Stock Award(Grant) at price 0.00 per share. WIJKSTROM JOAKIM PER Officer — 2026-02-18 00:00:00 D
4 125000 — — Stock Award(Grant) at price 0.00 per share. MORAN KEVIN PATRICK Chief Financial Officer — 2026-02-18 00:00:00 D
5 10000 41500 — Purchase at price 4.15 per share. POLYMEROPOULOS MIHAEL HRISTOS Chief Executive Officer — 2025-08-07 00:00:00 D
6 7000 32130 — Sale at price 4.59 per share. MITCHELL STEPHEN RAY Director — 2025-06-13 00:00:00 D
7 59225 — — Stock Award(Grant) at price 0.00 per share. CHROUSOS PHAEDRA Director — 2025-06-05 00:00:00 D
8 59225 — — Stock Award(Grant) at price 0.00 per share. WARD ANNE SEMPOWSKI Director — 2025-06-05 00:00:00 D
9 59225 — — Stock Award(Grant) at price 0.00 per share. MITCHELL STEPHEN RAY Director — 2025-06-05 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems0.000.000.000.00
TaxRateForCalcs0.210.180.210.21
NormalizedEBITDA-139.25M-30.86M-9.62M9.06M
NetIncomeFromContinuingOperationNetMinorityInterest-220.47M-18.90M2.51M6.28M
ReconciledDepreciation11.92M9.80M4.33M2.73M
ReconciledCostOfRevenue8.13M8.79M12.55M23.07M
EBITDA-139.25M-30.86M-9.62M9.06M
EBIT-151.17M-40.66M-13.95M6.33M
NormalizedIncome-220.47M-18.90M2.51M6.28M
NetIncomeFromContinuingAndDiscontinuedOperation-220.47M-18.90M2.51M6.28M
TotalExpenses367.27M239.43M206.59M248.05M
TotalOperatingIncomeAsReported-151.17M-40.66M-13.95M6.33M
DilutedAverageShares58.93M58.15M57.56M56.98M
BasicAverageShares58.93M58.15M57.38M56.46M
DilutedEPS-3.74-0.330.040.11
BasicEPS-3.74-0.330.040.11
DilutedNIAvailtoComStockholders-220.47M-18.90M2.51M6.28M
NetIncomeCommonStockholders-220.47M-18.90M2.51M6.28M
NetIncome-220.47M-18.90M2.51M6.28M
NetIncomeIncludingNoncontrollingInterests-220.47M-18.90M2.51M6.28M
NetIncomeContinuousOperations-220.47M-18.90M2.51M6.28M
TaxProvision81.83M-4.02M3.83M5.03M
PretaxIncome-138.65M-22.92M6.34M11.30M
OtherIncomeExpense12.52M17.74M20.29M4.97M
OtherNonOperatingIncomeExpenses12.52M17.74M20.29M4.97M
OperatingIncome-151.17M-40.66M-13.95M6.33M
OperatingExpense354.23M228.12M191.80M223.77M
DepreciationAmortizationDepletionIncomeStatement7.01M7.27M2.09M1.52M
DepreciationAndAmortizationInIncomeStatement7.01M7.27M2.09M1.52M
Amortization7.01M7.27M2.09M1.52M
AmortizationOfIntangiblesIncomeStatement7.01M7.27M2.09M1.52M
ResearchAndDevelopment109.27M74.43M76.82M85.77M
SellingGeneralAndAdministration237.95M146.41M112.88M136.49M
GrossProfit203.06M187.46M177.84M230.10M
CostOfRevenue13.04M11.31M14.80M24.28M
TotalRevenue216.10M198.77M192.64M254.38M
OperatingRevenue216.10M198.77M192.64M254.38M
Line Item2023-12-31
TreasurySharesNumber0.00
OrdinarySharesNumber59.10M58.31M57.53M56.78M
ShareIssued59.10M58.31M57.53M56.78M
TotalDebt12.62M12.36M9.40M11.14M
TangibleBookValue210.10M424.45M423.54M508.63M
InvestedCapital327.19M538.55M544.91M527.20M
WorkingCapital202.10M338.91M345.25M427.86M
NetTangibleAssets210.10M424.45M423.54M508.63M
CapitalLeaseObligations12.62M12.36M9.40M11.14M
CommonStockEquity327.19M538.55M544.91M527.20M
TotalCapitalization327.19M538.55M544.91M527.20M
TotalEquityGrossMinorityInterest327.19M538.55M544.91M527.20M
StockholdersEquity327.19M538.55M544.91M527.20M
GainsLossesNotAffectingRetainedEarnings629.00K74.00K-30.00K-1.19M
OtherEquityAdjustments629.00K74.00K-30.00K-1.19M
RetainedEarnings-394.77M-174.29M-155.39M-157.90M
AdditionalPaidInCapital721.26M712.71M700.27M686.24M
CapitalStock59.00K58.00K58.00K57.00K
CommonStock59.00K58.00K58.00K57.00K
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest161.76M117.66M103.53M107.05M
TotalNonCurrentLiabilitiesNetMinorityInterest16.60M17.68M15.83M15.61M
OtherNonCurrentLiabilities9.53M9.59M8.83M6.80M
LongTermDebtAndCapitalLeaseObligation7.07M8.09M7.01M8.81M
LongTermCapitalLeaseObligation7.07M8.09M7.01M8.81M
CurrentLiabilities145.16M99.98M87.70M91.44M
CurrentDebtAndCapitalLeaseObligation5.55M4.27M2.40M2.33M
CurrentCapitalLeaseObligation5.55M4.27M2.40M2.33M
PensionandOtherPostRetirementBenefitPlansCurrent10.32M8.46M6.41M6.84M
CurrentProvisions76.86M60.90M49.24M45.88M
PayablesAndAccruedExpenses52.42M26.35M29.65M36.38M
CurrentAccruedExpenses10.00M0.0018.71M18.81M
Payables42.42M26.35M29.65M36.38M
OtherPayable37.48M22.85M22.50M23.69M
AccountsPayable4.94M3.50M7.14M12.69M
TotalAssets488.95M656.20M648.44M634.25M
TotalNonCurrentAssets141.69M217.31M215.49M114.95M
OtherNonCurrentAssets11.08M9.10M9.98M11.38M
NonCurrentDeferredAssets0.0081.44M75.00M74.04M
NonCurrentDeferredTaxesAssets0.0081.44M75.00M74.04M
GoodwillAndOtherIntangibleAssets117.09M114.10M121.37M18.57M
OtherIntangibleAssets117.09M114.10M121.37M18.57M
NetPPE13.51M12.68M9.14M10.97M
AccumulatedDepreciation-12.62M-11.57M-11.18M-10.42M
GrossPPE26.13M24.24M20.32M21.39M
Leases5.50M5.47M5.44M5.42M
OtherProperties11.27M10.54M7.10M8.40M
MachineryFurnitureEquipment9.37M8.23M7.78M7.58M
Properties0.000.000.000.00
CurrentAssets347.26M438.89M432.95M519.29M
OtherCurrentAssets26.98M15.42M9.17M17.73M
PrepaidAssets12.00M
Inventory1.85M1.73M1.36M1.19M
FinishedGoods1.85M1.73M1.33M1.17M
WorkInProcess0.0027.00K23.00K30.00K
Receivables54.58M47.10M34.16M33.51M
AccountsReceivable54.58M47.10M34.16M33.51M
CashCashEquivalentsAndShortTermInvestments263.85M374.64M388.26M466.86M
OtherShortTermInvestments179.00M272.33M252.44M331.83M
CashAndCashEquivalents84.85M102.32M135.82M135.03M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow-110.44M-16.25M12.42M31.30M
RepaymentOfDebt-1.99M-155.00K0.000.00
CapitalExpenditure-998.00K-490.00K-383.00K-679.00K
EndCashPosition85.32M102.78M136.29M135.50M
BeginningCashPosition102.78M136.29M135.50M52.59M
EffectOfExchangeRateChanges23.00K-163.00K47.00K265.00K
ChangesInCash-17.49M-33.34M745.00K82.64M
FinancingCashFlow-2.91M-155.00K0.00734.00K
CashFlowFromContinuingFinancingActivities-2.91M-155.00K0.00734.00K
NetOtherFinancingCharges-915.00K
ProceedsFromStockOptionExercised0.000.00734.00K3.55M
NetIssuancePaymentsOfDebt-1.99M-155.00K0.000.00
NetLongTermDebtIssuance-1.99M-155.00K0.000.00
LongTermDebtPayments-1.99M-155.00K0.000.00
InvestingCashFlow94.86M-17.43M-12.06M49.92M
CashFlowFromContinuingInvestingActivities94.86M-17.43M-12.06M49.92M
NetOtherInvestingChanges-4.23M-100.67M
NetInvestmentPurchaseAndSale95.86M-12.71M88.99M50.60M
SaleOfInvestment208.24M352.06M601.60M399.86M
PurchaseOfInvestment-112.38M-364.77M-512.61M-349.26M
NetBusinessPurchaseAndSale-100.67M0.000.00
PurchaseOfBusiness-100.67M0.000.00
NetPPEPurchaseAndSale-998.00K-490.00K-383.00K-679.00K
PurchaseOfPPE-998.00K-490.00K-383.00K-679.00K
OperatingCashFlow-109.44M-15.76M12.80M31.98M
CashFlowFromContinuingOperatingActivities-109.44M-15.76M12.80M31.98M
ChangeInWorkingCapital8.31M-6.56M-747.00K6.07M
ChangeInOtherWorkingCapital15.48M11.59M3.19M5.99M
ChangeInPayablesAndAccruedExpense15.82M1.71M-10.98M11.79M
ChangeInPayable15.82M1.71M-10.98M11.79M
ChangeInAccountPayable15.82M1.71M-10.98M11.79M
ChangeInPrepaidAssets-12.07M-6.82M8.52M-6.14M
ChangeInInventory-3.47M-29.00K-771.00K-4.48M
ChangeInReceivables-7.46M-13.01M-707.00K-1.09M
ChangesInAccountReceivables-7.46M-13.01M-707.00K-1.09M
OtherNonCashItems1.94M946.00K2.10M2.46M
StockBasedCompensation9.47M12.43M14.04M16.28M
AmortizationOfSecurities-2.05M-6.99M-8.80M-2.96M
DeferredTax81.44M-6.48M-1.29M1.13M
DeferredIncomeTax81.44M-6.48M-1.29M1.13M
DepreciationAmortizationDepletion11.92M9.80M4.33M2.73M
DepreciationAndAmortization11.92M9.80M4.33M2.73M
AmortizationCashFlow7.01M7.27M2.09M1.52M
AmortizationOfIntangibles7.01M7.27M2.09M1.52M
Depreciation4.91M2.53M2.24M1.22M
OperatingGainsLosses655.00K-12.00K
GainLossOnInvestmentSecurities655.00K-12.00K
NetIncomeFromContinuingOperations-220.47M-18.90M2.51M6.28M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for VNDA
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