BlackRock Inc. Makes New Investment in Vanda Pharmaceuticals Inc. $VNDA

Key Points

• BlackRock purchased 7.65 million shares of Vanda Pharmaceuticals in the second quarter, worth approximately $46.8 million and representing a 12.73% stake. Institutional investors collectively own 88.14% of the company.
• Vanda reported a quarterly loss of $1.04 per share and revenue of $50.53 million, missing analyst expectations for a $0.58 loss and $61.92 million in revenue. Analysts expect the company to post a loss of approximately $3 per share for the full fiscal year.
• Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $13.70 versus the stock’s recent price of $5.40.

BlackRock Inc. purchased a new stake in shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,653,737 shares of the biopharmaceutical company's stock, valued at approximately $46,841,000. BlackRock Inc. owned approximately 12.73% of Vanda Pharmaceuticals as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in Vanda Pharmaceuticals by 456.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,495 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 5,328 shares during the last quarter. Quarry LP bought a new position in shares of Vanda Pharmaceuticals in the third quarter worth about $53,000. Cerity Partners LLC purchased a new position in Vanda Pharmaceuticals during the second quarter valued at approximately $69,000. Boothbay Fund Management LLC purchased a new position in shares of Vanda Pharmaceuticals during the 3rd quarter valued at $72,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Vanda Pharmaceuticals in the second quarter valued at about $75,000. Hedge funds and other institutional investors own 88.14% of the company's stock.

Vanda Pharmaceuticals Price Performance

Shares of VNDA stock opened at $5.40 on Tuesday. Vanda Pharmaceuticals Inc. has a fifty-two week low of $4.27 and a fifty-two week high of $9.94. The firm has a market capitalization of $326.48 million, a price-to-earnings ratio of -1.17 and a beta of 0.64. 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's 50-day simple moving average is $5.55 and its 200-day simple moving average is $6.47.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($1.04) EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $61.92 million. As a group, equities analysts forecast that Vanda Pharmaceuticals Inc. will post -3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. B. Riley Financial reissued a "buy" rating and set a $12.00 price objective (down from $17.00) on shares of Vanda Pharmaceuticals in a report on Monday, August 10th. Wall Street Zen downgraded Vanda Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 9th. HC Wainwright lowered their price target on Vanda Pharmaceuticals from $21.00 to $20.00 and set a "buy" rating for the company in a report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vanda Pharmaceuticals in a research note on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $13.70.

About Vanda Pharmaceuticals

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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