Vanda Pharmaceuticals (NASDAQ:VNDA) Shares Pass Above 200 Day Moving Average – Here’s Why

by · The Markets Daily

Shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDAGet Free Report) crossed 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 changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VNDA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a report on Wednesday, January 21st. UBS Group restated a “buy” rating on shares of Vanda Pharmaceuticals in a research report on Monday, January 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vanda Pharmaceuticals in a report on Wednesday, December 17th. B. Riley Financial boosted their price objective on shares of Vanda Pharmaceuticals from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, December 31st. Finally, HC Wainwright raised their target price on shares of Vanda Pharmaceuticals from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Vanda Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $14.90.

Check Out Our Latest Stock Report on VNDA

Vanda Pharmaceuticals Stock Down 2.9%

The firm’s 50-day moving average price is $7.71 and its 200 day moving average price is $6.38. The firm has a market cap of $408.45 million, a P/E ratio of -1.85 and a beta of 0.55. The company has a quick ratio of 2.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.01.

Vanda Pharmaceuticals (NASDAQ:VNDAGet Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported ($2.39) earnings per share 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 firm had revenue of $57.22 million during the quarter, compared to the consensus estimate of $59.28 million. As a group, research analysts expect that Vanda Pharmaceuticals Inc. will post -1.12 earnings per share for the current year.

Insider Activity at Vanda Pharmaceuticals

In other news, CMO Joakim Wijkstrom sold 30,800 shares of the business’s 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 $254,716.00. Following the completion of the transaction, the chief marketing officer directly owned 333,469 shares in the company, valued at approximately $2,757,788.63. The trade was a 8.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin Patrick Moran sold 42,442 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $8.27, for a total value of $350,995.34. Following the transaction, the chief financial officer owned 411,380 shares of the company’s stock, valued at approximately $3,402,112.60. This represents a 9.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 314,342 shares of company stock valued at $2,583,985. Company insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Torren Management LLC bought a new stake in shares of Vanda Pharmaceuticals during the fourth quarter valued at about $25,000. Russell Investments Group Ltd. grew its position in Vanda Pharmaceuticals by 456.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,495 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 5,328 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Vanda Pharmaceuticals by 3,010.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 10,389 shares of the biopharmaceutical company’s stock valued at $92,000 after buying an additional 10,055 shares during the period. Jain Global LLC acquired a new position in Vanda Pharmaceuticals during the 4th quarter valued at about $94,000. Finally, Quarry LP bought a new stake in shares of Vanda Pharmaceuticals during the 3rd quarter worth about $53,000. Institutional investors own 88.14% of the company’s stock.

Vanda Pharmaceuticals Company Profile

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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.

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