Vanda Pharmaceuticals (NASDAQ:VNDA) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.37 and traded as high as $7.97. Vanda Pharmaceuticals shares last traded at $7.93, with a volume of 957,741 shares traded.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, October 8th. Jefferies Financial Group increased their price target on Vanda Pharmaceuticals from $5.00 to $7.50 and gave the company a “hold” rating in a research report on Wednesday, December 31st. HC Wainwright raised their price target on Vanda Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Wall Street Zen upgraded Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, December 17th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.63.

Vanda Pharmaceuticals Stock Performance

The stock has a market capitalization of $468.66 million, a P/E ratio of -5.58 and a beta of 0.60. The stock’s 50-day simple moving average is $6.50 and its 200 day simple moving average is $5.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.12 and a quick ratio of 3.10.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its earnings results on Wednesday, October 29th. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.07). The company had revenue of $56.26 million for the quarter, compared to analyst estimates of $58.73 million. Vanda Pharmaceuticals had a negative return on equity of 16.82% and a negative net margin of 39.70%. Research analysts expect that Vanda Pharmaceuticals Inc. will post -1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake 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 purchasing an additional 5,328 shares during the period. CWM LLC lifted its holdings in shares of Vanda Pharmaceuticals by 424.6% during the second quarter. CWM LLC now owns 9,359 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 7,575 shares in the last quarter. Quarry LP bought a new stake in shares of Vanda Pharmaceuticals in the third quarter valued at about $53,000. Cerity Partners LLC bought a new stake in shares of Vanda Pharmaceuticals in the second quarter valued at about $69,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Vanda Pharmaceuticals in the third quarter valued at about $72,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

About Vanda Pharmaceuticals

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.