Vanda Pharmaceuticals Inc. $VNDA Stock Purchased by State Street Corp

Key Points

• State Street increased its Vanda Pharmaceuticals position by 16.6% in the second quarter, acquiring 500,843 additional shares and holding 5.82% of the company. Institutional investors collectively own 88.14% of VNDA.
• Analyst sentiment is moderately positive: six analysts rate the stock Buy, two Hold, and one Sell, with a consensus price target of $13.08. Recent coverage included Oppenheimer’s Outperform rating, while several firms lowered their price targets.
• Vanda reported a quarterly loss of $1.04 per share versus the expected $0.58 loss and revenue of $50.53 million versus the $61.92 million estimate. Shares opened at $5.05, near the lower end of their 12-month range.

State Street Corp increased its position in shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Free Report) by 16.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,516,405 shares of the biopharmaceutical company's stock after buying an additional 500,843 shares during the period. State Street Corp owned 5.82% of Vanda Pharmaceuticals worth $21,520,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Vanda Pharmaceuticals during the second quarter worth approximately $46,841,000. Renaissance Technologies LLC raised its stake in Vanda Pharmaceuticals by 11.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,759,559 shares of the biopharmaceutical company's stock valued at $25,979,000 after purchasing an additional 378,598 shares during the last quarter. AIGH Capital Management LLC lifted its holdings in Vanda Pharmaceuticals by 37.6% in the 1st quarter. AIGH Capital Management LLC now owns 2,750,000 shares of the biopharmaceutical company's stock valued at $19,002,000 after purchasing an additional 751,569 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Vanda Pharmaceuticals by 25.0% during the 1st quarter. Quantinno Capital Management LP now owns 327,193 shares of the biopharmaceutical company's stock worth $2,261,000 after purchasing an additional 65,391 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in Vanda Pharmaceuticals during the 2nd quarter worth $1,731,000. Institutional investors and hedge funds own 88.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VNDA. Weiss Ratings restated a "sell (d-)" rating on shares of Vanda Pharmaceuticals in a research report on Friday, July 17th. Oppenheimer began coverage on shares of Vanda Pharmaceuticals in a report on Wednesday. They issued an "outperform" rating and a $10.00 price objective for the company. HC Wainwright decreased their target price on shares of Vanda Pharmaceuticals from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Finally, 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 report on Monday, August 10th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.08.

Vanda Pharmaceuticals Trading Up 1.4%

NASDAQ VNDA opened at $5.05 on Friday. The firm's 50-day moving average is $5.23 and its two-hundred day moving average is $6.19. Vanda Pharmaceuticals Inc. has a 12 month low of $4.27 and a 12 month high of $9.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.61 and a quick ratio of 1.60. The stock has a market capitalization of $305.32 million, a P/E ratio of -1.09 and a beta of 0.64.

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). The company had revenue of $50.53 million for the quarter, compared to analyst estimates of $61.92 million. Vanda Pharmaceuticals had a negative net margin of 127.41% and a negative return on equity of 49.81%. On average, sell-side analysts anticipate that Vanda Pharmaceuticals Inc. will post -3.02 earnings per share for the current year.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing therapies for disorders involving the central nervous system and circadian rhythm. Founded in 2003 and headquartered in Washington, DC, the company conducts clinical development, regulatory, and commercial activities primarily in the United States, with efforts to make its products available in additional markets where approved.

Vanda's marketed products include Hetlioz (tasimelteon), a melatonin-receptor agonist approved for the treatment of Non-24-Hour Sleep-Wake Disorder in adults who are totally blind and for nighttime sleep disturbances in certain patients with Smith-Magenis syndrome.

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