Deerfield Mgmt, LP revealed that they own a 7.9% stake in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) in a Form 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, September 30th. The investor owns 3,435,576 shares of the stock worth $55,862,466. The reporting parties listed on the disclosure included Deerfield Mgmt, LP, Deerfield Management Company, LP, Deerfield Partners, LP, Deerfield Special Situations Fund, LP, Deerfield International Master Fund, LP and James E Flynn. The filing is available through the SEC website at this link.
Other hedge funds have also recently made changes to their positions in the company. Macquarie Group Ltd. raised its stake in shares of Vanda Pharmaceuticals by 24.6% in the second quarter. Macquarie Group Ltd. now owns 1,532,533 shares of the biopharmaceutical company’s stock valued at $17,149,000 after buying an additional 302,591 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Vanda Pharmaceuticals by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 313,088 shares of the biopharmaceutical company’s stock valued at $3,504,000 after buying an additional 12,909 shares during the last quarter. Palo Alto Investors LLC raised its stake in shares of Vanda Pharmaceuticals by 4.8% in the second quarter. Palo Alto Investors LLC now owns 4,225,608 shares of the biopharmaceutical company’s stock valued at $47,285,000 after buying an additional 194,700 shares during the last quarter. Numeric Investors LLC raised its stake in shares of Vanda Pharmaceuticals by 197.9% in the second quarter. Numeric Investors LLC now owns 42,900 shares of the biopharmaceutical company’s stock valued at $480,000 after buying an additional 28,500 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Vanda Pharmaceuticals during the second quarter valued at $200,000. 86.06% of the stock is currently owned by institutional investors.
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) opened at 16.26 on Friday. The firm has a 50-day moving average price of $14.88 and a 200 day moving average price of $11.18. Vanda Pharmaceuticals Inc. has a 12 month low of $6.91 and a 12 month high of $18.00. The company’s market cap is $703.80 million.
Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.12. The firm had revenue of $36.02 million for the quarter, compared to analyst estimates of $36.03 million. Vanda Pharmaceuticals had a negative return on equity of 22.51% and a negative net margin of 31.85%. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.13) earnings per share. On average, equities analysts expect that Vanda Pharmaceuticals Inc. will post ($0.61) earnings per share for the current year.
Several brokerages have recently weighed in on VNDA. Brean Capital reissued a “buy” rating and set a $24.00 price objective (up previously from $20.00) on shares of Vanda Pharmaceuticals in a report on Monday, August 29th. JMP Securities lifted their price objective on Vanda Pharmaceuticals from $18.00 to $22.00 and gave the stock a “market outperform” rating in a report on Friday, August 26th. Piper Jaffray Cos. set a $16.00 price objective on Vanda Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 18th. Zacks Investment Research raised Vanda Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a research note on Tuesday, August 2nd. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Vanda Pharmaceuticals in a research note on Friday, June 10th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Vanda Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $18.17.
In other Vanda Pharmaceuticals news, insider James E. Flynn sold 1,120,461 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $16.56, for a total value of $18,554,834.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James E. Flynn sold 547,886 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $15.66, for a total value of $8,579,894.76. The disclosure for this sale can be found here. 8.45% of the stock is owned by company insiders.
About Vanda Pharmaceuticals
Vanda Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of pharmaceutical products for the treatment of central nervous system (CNS) disorders. The Company’s product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051.
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