Vanda Pharmaceuticals (NASDAQ:VNDA) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.54 and traded as high as $7.96. Vanda Pharmaceuticals shares last traded at $7.74, with a volume of 956,698 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, December 17th. HC Wainwright boosted their target price on Vanda Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, January 5th. UBS Group reaffirmed a “buy” rating on shares of Vanda Pharmaceuticals in a research report on Monday, January 5th. Finally, Jefferies Financial Group boosted their price objective on Vanda Pharmaceuticals from $5.00 to $7.50 and gave the company a “hold” rating in a research report on Wednesday, December 31st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Vanda Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $13.63.

Vanda Pharmaceuticals Stock Up 2.7%

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 company has a market capitalization of $457.43 million, a price-to-earnings ratio of -5.45 and a beta of 0.62. The firm has a 50-day moving average price of $6.99 and a two-hundred day moving average price of $5.54.

Institutional Trading of Vanda Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. AIGH Capital Management LLC bought a new position in Vanda Pharmaceuticals in the fourth quarter valued at $17,626,000. Millennium Management LLC grew its holdings in shares of Vanda Pharmaceuticals by 220.0% in 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. Marshall Wace LLP grew its holdings in shares of Vanda Pharmaceuticals by 945.9% in the 2nd quarter. Marshall Wace LLP now owns 471,720 shares of the biopharmaceutical company’s stock valued at $2,227,000 after acquiring an additional 426,620 shares in the last quarter. Krensavage Asset Management LLC increased its position in shares of Vanda Pharmaceuticals by 35.9% in the second quarter. Krensavage Asset Management LLC now owns 1,024,883 shares of the biopharmaceutical company’s stock valued at $4,837,000 after acquiring an additional 270,502 shares during the last quarter. Finally, Stonepine Capital Management LLC raised its holdings in Vanda Pharmaceuticals by 611.3% during the second quarter. Stonepine Capital Management LLC now owns 250,000 shares of the biopharmaceutical company’s stock worth $1,180,000 after acquiring an additional 214,852 shares in the last quarter. Institutional investors 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.