Short Interest in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Rises By 23.3%

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 2,879,747 shares, an increase of 23.3% from the December 31st total of 2,335,804 shares. Based on an average daily volume of 2,042,973 shares, the short-interest ratio is presently 1.4 days. Currently, 5.3% of the company’s shares are short sold. Currently, 5.3% of the company’s shares are short sold. Based on an average daily volume of 2,042,973 shares, the short-interest ratio is presently 1.4 days.

Vanda Pharmaceuticals Trading Down 5.6%

VNDA opened at $7.60 on Thursday. Vanda Pharmaceuticals has a one year low of $3.81 and a one year high of $9.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.12 and a quick ratio of 3.10. The business has a 50 day simple moving average of $7.09 and a two-hundred day simple moving average of $5.58. The firm has a market capitalization of $449.16 million, a price-to-earnings ratio of -5.35 and a beta of 0.62.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VNDA shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, January 21st. Jefferies Financial Group boosted their target price on Vanda Pharmaceuticals from $5.00 to $7.50 and gave the company a “hold” rating in a research note on Wednesday, December 31st. Wall Street Zen upgraded Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Vanda Pharmaceuticals in a research report on Wednesday, December 17th. Finally, HC Wainwright boosted their price objective on Vanda Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.63.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Vanda Pharmaceuticals by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,587,139 shares of the biopharmaceutical company’s stock valued at $17,900,000 after buying an additional 14,336 shares during the period. Millennium Management LLC boosted its position in Vanda Pharmaceuticals by 220.0% during the 1st quarter. Millennium Management LLC now owns 2,139,591 shares of the biopharmaceutical company’s stock valued at $9,821,000 after acquiring an additional 1,470,898 shares in the last quarter. AIGH Capital Management LLC purchased a new position in shares of Vanda Pharmaceuticals during the 4th quarter worth approximately $17,626,000. Geode Capital Management LLC raised its position in shares of Vanda Pharmaceuticals by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,691,638 shares of the biopharmaceutical company’s stock worth $7,986,000 after acquiring an additional 77,997 shares in the last quarter. Finally, Krensavage Asset Management LLC lifted its stake in shares of Vanda Pharmaceuticals by 15.2% in the 3rd quarter. Krensavage Asset Management LLC now owns 1,180,388 shares of the biopharmaceutical company’s stock valued at $5,890,000 after purchasing an additional 155,505 shares during the period. 88.14% of the stock is owned by hedge funds and other institutional investors.

Vanda Pharmaceuticals Company Profile

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.