Monaco Asset Management SAM Invests $1.35 Million in Vanda Pharmaceuticals Inc. $VNDA

Key Points

• Monaco Asset Management SAM acquired 221,286 Vanda Pharmaceuticals shares worth approximately $1.35 million, giving it about 0.37% ownership and making VNDA 0.1% of its portfolio.
• Vanda reported a weaker-than-expected quarter, with a $1.04 loss per share versus the $0.58 consensus estimate and revenue of $50.53 million versus $61.92 million expected.
• VNDA opened at $5.22, while analysts maintained a mixed but overall “Moderate Buy” view with a consensus price target of $13.70; institutional investors collectively own 88.14% of the stock.

Monaco Asset Management SAM acquired a new stake in shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 221,286 shares of the biopharmaceutical company's stock, valued at approximately $1,354,000. Vanda Pharmaceuticals makes up 0.1% of Monaco Asset Management SAM's investment portfolio, making the stock its 24th largest position. Monaco Asset Management SAM owned approximately 0.37% of Vanda Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Torren Management LLC acquired a new stake in Vanda Pharmaceuticals during the 4th quarter worth approximately $25,000. Russell Investments Group Ltd. boosted its holdings in shares of Vanda Pharmaceuticals by 456.6% in the third quarter. Russell Investments Group Ltd. now owns 6,495 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 5,328 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Vanda Pharmaceuticals by 3,010.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 10,389 shares of the biopharmaceutical company's stock valued at $92,000 after buying an additional 10,055 shares during the period. Jain Global LLC acquired a new position in shares of Vanda Pharmaceuticals in the fourth quarter valued at approximately $94,000. Finally, Quarry LP bought a new stake in shares of Vanda Pharmaceuticals during the third quarter worth $53,000. 88.14% of the stock is currently owned by institutional investors and hedge funds.

Vanda Pharmaceuticals Price Performance

Shares of VNDA opened at $5.22 on Monday. The stock has a market capitalization of $315.60 million, a P/E ratio of -1.13 and a beta of 0.64. Vanda Pharmaceuticals Inc. has a twelve month low of $4.27 and a twelve month high of $9.94. The company has a 50 day moving average of $5.67 and a 200-day moving average of $6.65. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.01.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) 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 business had revenue of $50.53 million during the quarter, compared to analyst estimates of $61.92 million. As a group, equities research analysts forecast that Vanda Pharmaceuticals Inc. will post -3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. B. Riley Financial restated 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. 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. Finally, HC Wainwright dropped their price target on Vanda Pharmaceuticals from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Vanda Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $13.70.

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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