Norges Bank Makes New Investment in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)

Norges Bank purchased a new stake in shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 115,000 shares of the biopharmaceutical company's stock, valued at approximately $551,000. Norges Bank owned about 0.20% of Vanda Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Monaco Asset Management SAM lifted its stake in shares of Vanda Pharmaceuticals by 92.8% in the 4th quarter. Monaco Asset Management SAM now owns 392,262 shares of the biopharmaceutical company's stock valued at $1,879,000 after purchasing an additional 188,836 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Vanda Pharmaceuticals by 108.9% in the fourth quarter. JPMorgan Chase & Co. now owns 335,741 shares of the biopharmaceutical company's stock valued at $1,608,000 after purchasing an additional 175,019 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Vanda Pharmaceuticals during the 4th quarter worth $649,000. Geode Capital Management LLC grew its stake in Vanda Pharmaceuticals by 7.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,425,827 shares of the biopharmaceutical company's stock worth $6,689,000 after purchasing an additional 94,870 shares in the last quarter. Finally, Barclays PLC increased its holdings in Vanda Pharmaceuticals by 128.2% during the 3rd quarter. Barclays PLC now owns 154,297 shares of the biopharmaceutical company's stock worth $722,000 after purchasing an additional 86,677 shares during the period. Hedge funds and other institutional investors own 88.14% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on VNDA. HC Wainwright restated a "buy" rating and set a $20.00 target price on shares of Vanda Pharmaceuticals in a research note on Tuesday, April 1st. StockNews.com assumed coverage on Vanda Pharmaceuticals in a research report on Wednesday, February 5th. They issued a "hold" rating for the company.

Insiders Place Their Bets

In related news, CEO Mihael Hristos Polymeropoulos purchased 10,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $4.76 per share, for a total transaction of $47,600.00. Following the transaction, the chief executive officer now owns 2,361,730 shares of the company's stock, valued at $11,241,834.80. This trade represents a 0.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have bought 32,000 shares of company stock worth $151,180 in the last quarter. 8.90% of the stock is owned by corporate insiders.

Vanda Pharmaceuticals Trading Down 0.1 %

Shares of NASDAQ:VNDA traded down $0.01 during trading on Thursday, hitting $4.37. 107,411 shares of the stock were exchanged, compared to its average volume of 667,866. Vanda Pharmaceuticals Inc. has a 12-month low of $3.85 and a 12-month high of $6.75. The company has a market cap of $254.55 million, a PE ratio of -13.64 and a beta of 0.72. The company has a fifty day moving average price of $4.60 and a two-hundred day moving average price of $4.69.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.06. The business had revenue of $53.19 million for the quarter, compared to analyst estimates of $51.00 million. Vanda Pharmaceuticals had a negative net margin of 9.51% and a negative return on equity of 3.49%. Equities research analysts anticipate that Vanda Pharmaceuticals Inc. will post -1.12 earnings per share for the current fiscal year.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs worldwide. The company's marketed products include HETLIOZ to treat non-24-hour sleep-wake disorders; and Fanapt oral tablets for the treatment of schizophrenia.