5 Best Depressed Stocks To Buy Now

4. Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)

Number of Hedge Fund Holders: 17

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) is a biopharmaceutical company that develops and commercializes therapies for unmet medical needs worldwide. Their marketed products include HETLIOZ for non-24-hour sleep-wake disorders and Fanapt for schizophrenia. Compared to the industry’s forward P/E ratio of 43.15x, Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) is trading at a forward P/E ratio of 30.30x.

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) also has pipeline products such as HETLIOZ for various sleep disorders, Fanapt for bipolar I disorder and Parkinson’s disease psychosis, and Tradipitant for several conditions including COVID-19 pneumonia. Other pipeline products include VTR-297 for oncology indications, VQW-765 for psychiatric disorders, VHX-896, and antisense oligonucleotide molecules.

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) reported $64.5 million in revenue for Q4 and $254.4 million for the full year, with 63% of the revenue coming from Hetlioz sales and the rest from Fanapt sales. The company’s revenue fell 5% YoY, which was attributed to challenges related to Hetlioz prescription reimbursement. However, the company had $466.9 million in cash at the end of December, an 8% increase from the previous year.

Among the hedge funds tracked by Insider Monkey, D. E. Shaw is the most notable stakeholder of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) as of Q4 2022, with 1.09 million shares worth $8.10 million. As of the end of the fourth quarter, 17 hedge funds in Insider Monkey’s database of 943 funds held stakes in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA), compared to 19 funds in the third quarter.

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