ClariVest Asset Management LLC Trims Position in Vanda Pharmaceuticals Inc. (VNDA)

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ClariVest Asset Management LLC cut its stake in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) by 12.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,678 shares of the biopharmaceutical company’s stock after selling 5,900 shares during the period. ClariVest Asset Management LLC owned about 0.08% of Vanda Pharmaceuticals worth $775,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in VNDA. BlackRock Inc. increased its stake in Vanda Pharmaceuticals by 16.3% in the second quarter. BlackRock Inc. now owns 4,960,924 shares of the biopharmaceutical company’s stock valued at $94,506,000 after purchasing an additional 693,922 shares during the period. venBio Select Advisor LLC increased its stake in Vanda Pharmaceuticals by 97.0% in the first quarter. venBio Select Advisor LLC now owns 2,775,191 shares of the biopharmaceutical company’s stock valued at $46,762,000 after purchasing an additional 1,366,245 shares during the period. First Manhattan Co. increased its stake in Vanda Pharmaceuticals by 478,333.0% in the second quarter. First Manhattan Co. now owns 956,866 shares of the biopharmaceutical company’s stock valued at $18,228,000 after purchasing an additional 956,666 shares during the period. Prudential Financial Inc. increased its stake in Vanda Pharmaceuticals by 20.4% in the first quarter. Prudential Financial Inc. now owns 847,779 shares of the biopharmaceutical company’s stock valued at $14,285,000 after purchasing an additional 143,770 shares during the period. Finally, Northern Trust Corp increased its stake in Vanda Pharmaceuticals by 1.2% in the first quarter. Northern Trust Corp now owns 584,761 shares of the biopharmaceutical company’s stock valued at $9,853,000 after purchasing an additional 6,730 shares during the period. 93.56% of the stock is owned by hedge funds and other institutional investors.

Shares of Vanda Pharmaceuticals stock opened at $18.45 on Friday. Vanda Pharmaceuticals Inc. has a 52-week low of $11.90 and a 52-week high of $23.35. The stock has a market cap of $989.97 million, a PE ratio of -52.71 and a beta of 0.52.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its quarterly earnings results on Wednesday, August 1st. The biopharmaceutical company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Vanda Pharmaceuticals had a net margin of 0.73% and a return on equity of 0.68%. The business had revenue of $47.40 million for the quarter, compared to analyst estimates of $47.28 million. During the same period in the previous year, the business posted $0.03 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. research analysts predict that Vanda Pharmaceuticals Inc. will post -0.01 EPS for the current year.

A number of research analysts have commented on the stock. Zacks Investment Research lowered shares of Vanda Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Cantor Fitzgerald assumed coverage on shares of Vanda Pharmaceuticals in a research note on Wednesday, August 22nd. They issued a “neutral” rating and a $26.00 price objective on the stock. Oppenheimer set a $27.00 price objective on shares of Vanda Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 2nd. Seaport Global Securities restated a “buy” rating and issued a $26.00 price objective on shares of Vanda Pharmaceuticals in a research note on Thursday, August 2nd. Finally, BidaskClub upgraded shares of Vanda Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 21st. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $24.86.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system disorders. 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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Institutional Ownership by Quarter for Vanda Pharmaceuticals (NASDAQ:VNDA)

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