Ieq Capital LLC Makes New $1.73 Million Investment in Vanda Pharmaceuticals Inc. $VNDA

Ieq Capital LLC acquired a new position in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) in the 2nd quarter, Holdings Channel reports. The firm acquired 282,779 shares of the biopharmaceutical company’s stock, valued at approximately $1,731,000.

A number of other hedge funds have also made changes to their positions in VNDA. BlackRock Inc. acquired a new position in shares of Vanda Pharmaceuticals during the 2nd quarter valued at $46,841,000. Renaissance Technologies LLC increased its holdings 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 in the last quarter. Vanguard Group Inc. raised its position in Vanda Pharmaceuticals by 0.4% in the third quarter. Vanguard Group Inc. now owns 3,587,139 shares of the biopharmaceutical company’s stock valued at $17,900,000 after purchasing an additional 14,336 shares during the period. AIGH Capital Management LLC lifted its stake in shares of Vanda Pharmaceuticals by 37.6% during the first quarter. AIGH Capital Management LLC now owns 2,750,000 shares of the biopharmaceutical company’s stock worth $19,002,000 after purchasing an additional 751,569 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Vanda Pharmaceuticals by 220.0% during the first quarter. Millennium Management LLC now owns 2,139,591 shares of the biopharmaceutical company’s stock worth $9,821,000 after purchasing an additional 1,470,898 shares in the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.

Wall Street Analyst Weigh In

VNDA has been the subject of a number of recent research reports. HC Wainwright lowered their target price on Vanda Pharmaceuticals from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research report on Friday, July 17th. B. Riley Financial restated a “buy” rating and issued a $12.00 price target (down from $17.00) on shares of Vanda Pharmaceuticals in a report on Monday, August 10th. Finally, Wall Street Zen downgraded shares of Vanda Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.70.

Vanda Pharmaceuticals Stock Performance

NASDAQ:VNDA opened at $5.44 on Wednesday. The firm has a 50-day moving average of $5.59 and a two-hundred day moving average of $6.53. 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 cap of $328.90 million, a P/E ratio of -1.17 and a beta of 0.64. Vanda Pharmaceuticals Inc. has a 1-year low of $4.27 and a 1-year high of $9.94.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its earnings results 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 return on equity of 49.81% and a negative net margin of 127.41%.The business had revenue of $50.53 million for the quarter, compared to analysts’ expectations of $61.92 million. On average, research analysts expect that Vanda Pharmaceuticals Inc. will post -3 earnings per share for the current fiscal year.

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.