Comerica Bank lessened its position in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,604 shares of the biopharmaceutical company’s stock after selling 2,238 shares during the period. Comerica Bank owned 0.09% of Vanda Pharmaceuticals worth $659,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Pearl River Capital LLC increased its holdings in Vanda Pharmaceuticals by 6,148.0% in the 1st quarter. Pearl River Capital LLC now owns 6,248 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 6,148 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Vanda Pharmaceuticals in the 1st quarter worth about $117,000. Victory Capital Management Inc. acquired a new position in Vanda Pharmaceuticals in the 1st quarter worth about $144,000. BNP Paribas Arbitrage SA grew its position in shares of Vanda Pharmaceuticals by 62,758.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,686 shares of the biopharmaceutical company’s stock valued at $197,000 after buying an additional 10,669 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Vanda Pharmaceuticals by 23.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,600 shares of the biopharmaceutical company’s stock valued at $209,000 after buying an additional 2,000 shares during the last quarter.
A number of research firms have commented on VNDA. ValuEngine lowered Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday. Stifel Nicolaus reiterated a “hold” rating and issued a $17.00 price target on shares of Vanda Pharmaceuticals in a research report on Wednesday, July 31st. Citigroup upgraded Vanda Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Vanda Pharmaceuticals from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $26.57.
In other news, SVP Timothy Williams sold 2,575 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $14.69, for a total value of $37,826.75. Following the completion of the sale, the senior vice president now directly owns 57,425 shares of the company’s stock, valued at $843,573.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard W. Dugan sold 15,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $14.85, for a total value of $222,750.00. Following the completion of the sale, the director now directly owns 50,770 shares of the company’s stock, valued at $753,934.50. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.
VNDA stock traded down $0.05 during trading on Friday, reaching $13.60. 39,871 shares of the stock were exchanged, compared to its average volume of 611,990. The firm’s 50 day moving average is $14.28 and its 200 day moving average is $15.79. Vanda Pharmaceuticals Inc. has a twelve month low of $11.83 and a twelve month high of $33.44. The firm has a market cap of $755.96 million, a P/E ratio of 28.46 and a beta of 0.39.
Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.24. Vanda Pharmaceuticals had a return on equity of 10.23% and a net margin of 13.61%. The business had revenue of $59.06 million for the quarter, compared to the consensus estimate of $54.19 million. During the same period in the prior year, the business earned $0.15 EPS. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. As a group, sell-side analysts predict that Vanda Pharmaceuticals Inc. will post 0.32 EPS for the current year.
Vanda Pharmaceuticals Company Profile
Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs and improve the lives of patients. The company's marketed products include HETLIOZ (tasimelteon), a product for the treatment of non-24-hour sleep-wake disorders; and Fanapt (iloperidone), a product for the treatment of schizophrenia.
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