Arrowstreet Capital Limited Partnership Buys New Position in Vanda Pharmaceuticals Inc. $VNDA

Key Points

• Arrowstreet Capital bought 241,430 shares of Vanda Pharmaceuticals in the first quarter, a stake valued at approximately $1.67 million and representing about 0.40% of the company. Hedge funds and institutional investors collectively own 88.14% of VNDA.
• Vanda’s stock opened at $5.09, down 4.5%, and remains under pressure after the company reported a quarterly loss of $1.04 per share versus the $0.58 consensus estimate. Revenue was just $1.03 million, far below analysts’ $61.92 million expectation.
• Analyst sentiment is mixed, but the overall consensus remains “Moderate Buy”, with an average price target of $14.30 compared with the recent share price. Forecasts call for a full-year loss of approximately $2.20 per share.

Arrowstreet Capital Limited Partnership purchased a new stake in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 241,430 shares of the biopharmaceutical company's stock, valued at approximately $1,668,000. Arrowstreet Capital Limited Partnership owned approximately 0.40% of Vanda Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in VNDA. AIGH Capital Management LLC purchased a new position in Vanda Pharmaceuticals in the 4th quarter worth approximately $17,626,000. Strs Ohio boosted its stake in Vanda Pharmaceuticals by 23,133.3% during the 1st quarter. Strs Ohio now owns 69,700 shares of the biopharmaceutical company's stock valued at $482,000 after purchasing an additional 69,400 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Vanda Pharmaceuticals by 94.7% in the 1st quarter. SG Americas Securities LLC now owns 21,042 shares of the biopharmaceutical company's stock worth $145,000 after purchasing an additional 10,235 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Vanda Pharmaceuticals by 8,629.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 29,158 shares of the biopharmaceutical company's stock worth $257,000 after purchasing an additional 28,824 shares in the last quarter. Finally, AXQ Capital LP purchased a new position in shares of Vanda Pharmaceuticals in the fourth quarter worth $234,000. 88.14% of the stock is owned by hedge funds and other institutional investors.

Vanda Pharmaceuticals Stock Down 4.5%

Vanda Pharmaceuticals stock opened at $5.09 on Thursday. The stock has a market cap of $306.06 million, a PE ratio of -1.26 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.15 and a current ratio of 2.16. Vanda Pharmaceuticals Inc. has a one year low of $4.14 and a one year high of $9.94. The stock has a fifty day moving average of $5.84 and a 200 day moving average of $6.78.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.46). The firm had revenue of $1.03 million during the quarter, compared to analysts' expectations of $61.92 million. Vanda Pharmaceuticals had a negative return on equity of 32.26% and a negative net margin of 109.99%. As a group, sell-side analysts predict that Vanda Pharmaceuticals Inc. will post -2.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VNDA. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vanda Pharmaceuticals in a research report on Friday, July 17th. Wall Street Zen lowered Vanda Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 9th. Finally, HC Wainwright restated a "buy" rating on shares of Vanda Pharmaceuticals in a research note on Thursday, June 4th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $14.30.

Vanda Pharmaceuticals Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source