AIGH Capital Management LLC Purchases New Stake in Vanda Pharmaceuticals Inc. $VNDA

Key Points

• AIGH Capital Management acquired 2.04 million shares of Vanda Pharmaceuticals worth approximately $12.5 million, representing about 3.4% of the company and 0.8% of its portfolio.
• Analyst sentiment is mixed but leans positive: five analysts rate VNDA a Buy, two a Hold, and one a Sell, resulting in a “Moderate Buy” consensus and a $13.70 average price target.
• Vanda reported a quarterly loss of $1.04 per share, missing the $0.58 consensus estimate, while revenue of $50.53 million fell short of the $61.92 million forecast. The stock opened at $5.22 and has a 52-week range of $4.27 to $9.94.

AIGH Capital Management LLC acquired a new position in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,044,169 shares of the biopharmaceutical company's stock, valued at approximately $12,510,000. Vanda Pharmaceuticals accounts for approximately 0.8% of AIGH Capital Management LLC's investment portfolio, making the stock its 21st biggest position. AIGH Capital Management LLC owned approximately 3.40% of Vanda Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Torren Management LLC bought a new position in shares of Vanda Pharmaceuticals in the 4th quarter valued at about $25,000. Hsbc Holdings PLC raised its position in shares of Vanda Pharmaceuticals by 8.8% during the 1st quarter. Hsbc Holdings PLC now owns 38,855 shares of the biopharmaceutical company's stock valued at $261,000 after acquiring an additional 3,144 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of Vanda Pharmaceuticals by 3.4% during the 4th quarter. Panagora Asset Management Inc. now owns 118,987 shares of the biopharmaceutical company's stock valued at $1,049,000 after acquiring an additional 3,928 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Vanda Pharmaceuticals by 6.1% in the 2nd quarter. Jane Street Group LLC now owns 79,107 shares of the biopharmaceutical company's stock valued at $373,000 after purchasing an additional 4,533 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Vanda Pharmaceuticals by 456.6% during the third quarter. Russell Investments Group Ltd. now owns 6,495 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 5,328 shares during the period. 88.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

VNDA has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vanda Pharmaceuticals in a report on Friday, July 17th. Wall Street Zen cut Vanda Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Saturday, May 9th. B. Riley Financial restated a "buy" rating and set a $12.00 target price (down from $17.00) on shares of Vanda Pharmaceuticals in a research report on Monday, August 10th. Finally, HC Wainwright cut their price target on shares of Vanda Pharmaceuticals from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $13.70.

Vanda Pharmaceuticals Price Performance

NASDAQ VNDA opened at $5.22 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a market cap of $315.60 million, a price-to-earnings ratio of -1.13 and a beta of 0.64. The business has a 50 day simple moving average of $5.67 and a 200 day simple moving average of $6.65. Vanda Pharmaceuticals Inc. has a 52-week low of $4.27 and a 52-week high of $9.94.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.46). Vanda Pharmaceuticals had a negative net margin of 127.41% and a negative return on equity of 49.81%. The company had revenue of $50.53 million during the quarter, compared to the consensus estimate of $61.92 million. Analysts anticipate that Vanda Pharmaceuticals Inc. will post -3 earnings per share for the current fiscal year.

Vanda Pharmaceuticals 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.

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