Lazard Asset Management LLC lowered its stake in shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Free Report) by 77.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,763 shares of the biopharmaceutical company's stock after selling 79,349 shares during the quarter. Lazard Asset Management LLC's holdings in Vanda Pharmaceuticals were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in VNDA. Dimensional Fund Advisors LP lifted its stake in Vanda Pharmaceuticals by 10.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,488,519 shares of the biopharmaceutical company's stock worth $11,920,000 after purchasing an additional 227,428 shares during the last quarter. Geode Capital Management LLC lifted its stake in Vanda Pharmaceuticals by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,450,310 shares of the biopharmaceutical company's stock worth $6,949,000 after purchasing an additional 24,483 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Vanda Pharmaceuticals by 4.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 819,382 shares of the biopharmaceutical company's stock worth $3,925,000 after purchasing an additional 38,449 shares during the last quarter. Federated Hermes Inc. lifted its stake in Vanda Pharmaceuticals by 1.4% during the fourth quarter. Federated Hermes Inc. now owns 726,619 shares of the biopharmaceutical company's stock worth $3,481,000 after purchasing an additional 9,840 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Vanda Pharmaceuticals by 1.3% during the fourth quarter. Northern Trust Corp now owns 507,442 shares of the biopharmaceutical company's stock worth $2,431,000 after purchasing an additional 6,283 shares during the last quarter. Institutional investors and hedge funds own 88.14% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on VNDA shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $13.00 target price on shares of Vanda Pharmaceuticals in a research note on Wednesday, May 14th. HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of Vanda Pharmaceuticals in a research note on Wednesday, May 7th. Finally, Wall Street Zen initiated coverage on shares of Vanda Pharmaceuticals in a research note on Wednesday, February 5th. They set a "hold" rating on the stock.
View Our Latest Research Report on VNDA
Insider Buying and Selling
In other news, CEO Mihael Hristos Polymeropoulos bought 10,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $5.02 per share, with a total value of $50,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,285,731 shares in the company, valued at approximately $11,474,369.62. The trade was a 0.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 50,000 shares of company stock valued at $226,200 over the last three months. Company insiders own 10.00% of the company's stock.
Vanda Pharmaceuticals Stock Performance
Shares of NASDAQ VNDA remained flat at $4.33 during midday trading on Tuesday. 264,563 shares of the company were exchanged, compared to its average volume of 715,378. Vanda Pharmaceuticals Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $6.75. The stock's 50 day moving average is $4.35 and its 200-day moving average is $4.61. The firm has a market capitalization of $255.18 million, a P/E ratio of -13.53 and a beta of 0.69.
Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, beating analysts' consensus estimates of ($0.55) by $0.05. The business had revenue of $50.04 million for the quarter, compared to analysts' expectations of $45.13 million. Vanda Pharmaceuticals had a negative net margin of 9.51% and a negative return on equity of 3.49%. As a group, equities analysts anticipate that Vanda Pharmaceuticals Inc. will post -1.12 earnings per share for the current fiscal year.
Vanda Pharmaceuticals Profile
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Free Report)
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.
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