Vanda Pharmaceuticals (NASDAQ:VNDA) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.35 and traded as high as $7.27. Vanda Pharmaceuticals shares last traded at $7.25, with a volume of 1,257,696 shares traded.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Zacks Research cut shares of Vanda Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. HC Wainwright raised their price objective on shares of Vanda Pharmaceuticals from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a report on Wednesday, January 21st. B. Riley Financial upped their target price on shares of Vanda Pharmaceuticals from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, December 31st. Finally, UBS Group reiterated a “buy” rating on shares of Vanda Pharmaceuticals in a report on Monday, January 5th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.90.

Vanda Pharmaceuticals Stock Up 6.3%

The stock has a market cap of $428.53 million, a PE ratio of -1.94 and a beta of 0.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.38. The company has a 50 day moving average price of $7.73 and a two-hundred day moving average price of $6.35.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported ($2.39) EPS for the quarter, missing the consensus estimate of ($2.18) by ($0.21). Vanda Pharmaceuticals had a negative net margin of 102.02% and a negative return on equity of 23.85%. The business had revenue of $57.22 million for the quarter, compared to analysts’ expectations of $59.28 million. Analysts expect that Vanda Pharmaceuticals Inc. will post -1.12 EPS for the current year.

Insider Activity

In other news, CFO Kevin Patrick Moran sold 42,442 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $8.27, for a total transaction of $350,995.34. Following the sale, the chief financial officer owned 411,380 shares of the company’s stock, valued at $3,402,112.60. This trade represents a 9.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Timothy Williams sold 42,434 shares of Vanda Pharmaceuticals stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $8.27, for a total transaction of $350,929.18. Following the completion of the sale, the senior vice president owned 377,450 shares of the company’s stock, valued at $3,121,511.50. This represents a 10.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 314,342 shares of company stock worth $2,583,985. 10.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in VNDA. Vanguard Group Inc. lifted its holdings in shares of Vanda Pharmaceuticals by 0.4% during the 3rd 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 increased its position in Vanda Pharmaceuticals by 220.0% during the first 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 during the last quarter. AIGH Capital Management LLC bought a new position in Vanda Pharmaceuticals in the fourth quarter valued at about $17,626,000. Geode Capital Management LLC lifted its holdings in Vanda Pharmaceuticals by 4.8% in the second quarter. Geode Capital Management LLC now owns 1,691,638 shares of the biopharmaceutical company’s stock valued at $7,986,000 after acquiring an additional 77,997 shares during the period. Finally, Krensavage Asset Management LLC boosted its position in Vanda Pharmaceuticals by 15.2% in the third quarter. Krensavage Asset Management LLC now owns 1,180,388 shares of the biopharmaceutical company’s stock worth $5,890,000 after purchasing an additional 155,505 shares during the last quarter. 88.14% of the stock is currently 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.