Vanda Pharmaceuticals (VNDA) Stock Falls on Q4 2025 Earnings

Vanda Pharmaceuticals Inc. (VNDA) reported fourth-quarter 2025 results with revenue of $56.3 million, a 5.8% year-over-year increase. The company recorded a gross loss of -$3.8 million, an operating loss of -$40.4 million, and a net loss attributable to common shareholders of -$141.2 million. Diluted earnings per share were -2.39.

Revenue: $56.3 million (+5.8% year-over-year).

Gross profit: -$3.8 million (down 107.6% year-over-year).

Operating loss: -$40.4 million (improved 292.6% year-over-year but still a loss).

Net loss: -$141.2 million (loss increased about 2,774% year-over-year).

Diluted EPS: -2.39 (vs. estimate -1.35).

Balance sheet and cash flow highlights:

Cash used in operating activities: -$31.6 million (cash outflow rose about 1,640% year-over-year).

Cash and cash equivalents: $70.0 million (down 31.6% year-over-year).

Purchases of property, plant and equipment: -$161,000 (down 24.8% year-over-year).

Total liabilities: $161.8 million (up 37.5% year-over-year).

Market reaction and guidance vs. expectations:

Revenue missed the consensus estimate of $60.5 million.

Reported diluted EPS of -2.39 was below the estimate of -1.35.

Shares moved following the release, down 8.48% since market close.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Vanda Pharmaceuticals Inc. Hedge Fund Activity

We have seen 65 institutional investors add shares of Vanda Pharmaceuticals Inc. stock to their portfolio, and 83 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

AIGH CAPITAL MANAGEMENT LLC added 1,998,431 shares (+inf%) to their portfolio in Q4 2025, for an estimated $17,626,161
CITIGROUP INC removed 853,995 shares (-97.0%) from their portfolio in Q3 2025, for an estimated $4,261,435
EMPIRE FINANCIAL MANAGEMENT COMPANY, LLC added 563,091 shares (+288.8%) to their portfolio in Q3 2025, for an estimated $2,809,824
AQR CAPITAL MANAGEMENT LLC added 532,742 shares (+392.5%) to their portfolio in Q3 2025, for an estimated $2,658,382
BLACKROCK, INC. removed 517,321 shares (-5.5%) from their portfolio in Q3 2025, for an estimated $2,581,431
SCHRODER INVESTMENT MANAGEMENT GROUP removed 307,176 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $1,532,808
MORGAN STANLEY removed 262,978 shares (-29.2%) from their portfolio in Q3 2025, for an estimated $1,312,260

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Vanda Pharmaceuticals Inc. Government Contracts

We have seen $171,234 of award payments to $VNDA over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

PHARM - HETLIOZ: $171,234

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

Vanda Pharmaceuticals Inc. Analyst Ratings

Wall Street analysts have issued reports on $VNDA in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

HC Wainwright & Co. issued a "Buy" rating on 11/19/2025
Cantor Fitzgerald issued a "Overweight" rating on 10/30/2025

To track analyst ratings and price targets for Vanda Pharmaceuticals Inc., check out Quiver Quantitative's $VNDA forecast page.

Vanda Pharmaceuticals Inc. Price Targets

Multiple analysts have issued price targets for $VNDA recently. We have seen 4 analysts offer price targets for $VNDA in the last 6 months, with a median target of $12.5.

Here are some recent targets:

Raghuram Selvaraju from HC Wainwright & Co. set a target price of $22.0 on 01/05/2026
Chris Howerton from Jefferies set a target price of $7.5 on 12/31/2025
Madison El-Saadi from B. Riley Securities set a target price of $14.0 on 12/31/2025
Olivia Brayer from Cantor Fitzgerald set a target price of $11.0 on 10/30/2025