California Public Employees Retirement System reduced its position in shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) by 9.7% during the first quarter, Holdings Channel reports. The institutional investor owned 57,400 shares of the biopharmaceutical company’s stock after selling 6,200 shares during the period. California Public Employees Retirement System’s holdings in Vanda Pharmaceuticals were worth $804,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC raised its stake in shares of Vanda Pharmaceuticals by 60.7% in the first quarter. FMR LLC now owns 1,601,171 shares of the biopharmaceutical company’s stock worth $22,416,000 after buying an additional 604,900 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Vanda Pharmaceuticals by 0.8% in the first quarter. Prudential Financial Inc. now owns 614,318 shares of the biopharmaceutical company’s stock worth $8,600,000 after buying an additional 4,700 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Vanda Pharmaceuticals by 1.0% in the first quarter. Teachers Advisors LLC now owns 535,861 shares of the biopharmaceutical company’s stock worth $7,502,000 after buying an additional 5,180 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Vanda Pharmaceuticals by 5.1% in the first quarter. TIAA CREF Investment Management LLC now owns 408,952 shares of the biopharmaceutical company’s stock worth $5,725,000 after buying an additional 19,674 shares in the last quarter. Finally, Spark Investment Management LLC raised its stake in shares of Vanda Pharmaceuticals by 316.1% in the first quarter. Spark Investment Management LLC now owns 198,500 shares of the biopharmaceutical company’s stock worth $2,779,000 after buying an additional 150,800 shares in the last quarter. Hedge funds and other institutional investors own 90.84% of the company’s stock.

Vanda Pharmaceuticals Inc. (VNDA) traded up 0.31% during trading on Wednesday, hitting $16.30. 24,959 shares of the stock traded hands. The company has a 50-day moving average price of $16.18 and a 200-day moving average price of $14.76. Vanda Pharmaceuticals Inc. has a 12 month low of $11.58 and a 12 month high of $18.00. The stock’s market cap is $731.19 million.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.18. Vanda Pharmaceuticals had a negative net margin of 6.54% and a negative return on equity of 7.85%. The company had revenue of $42.06 million during the quarter, compared to analysts’ expectations of $40.31 million. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s revenue was up 16.7% on a year-over-year basis. Equities research analysts expect that Vanda Pharmaceuticals Inc. will post ($0.47) EPS for the current year.

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VNDA has been the topic of a number of research analyst reports. Piper Jaffray Companies restated an “overweight” rating and issued a $23.00 target price on shares of Vanda Pharmaceuticals in a research report on Tuesday, June 27th. HC Wainwright initiated coverage on shares of Vanda Pharmaceuticals in a research report on Friday, May 26th. They issued a “buy” rating and a $18.00 target price on the stock. Zacks Investment Research upgraded shares of Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Oppenheimer Holdings, Inc. set a $21.00 target price on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, TheStreet upgraded shares of Vanda Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Friday, May 12th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Vanda Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $21.33.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies to address unmet medical needs. Its product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051. It offers HETLIOZ for the treatment of Non-24-Hour Sleep-Wake Disorder (Non-24).

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Institutional Ownership by Quarter for Vanda Pharmaceuticals (NASDAQ:VNDA)

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