Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Sees Significant Growth in Short Interest

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

Vanda Pharmaceuticals Price Performance

Shares of NASDAQ:VNDA opened at $8.05 on Wednesday. Vanda Pharmaceuticals has a one year low of $3.81 and a one year high of $9.60. The stock has a market cap of $475.76 million, a PE ratio of -5.67 and a beta of 0.62. The business’s fifty day moving average price is $7.05 and its two-hundred day moving average price is $5.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.10 and a current ratio of 3.12.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Hedge funds have recently modified their holdings of the company. AIGH Capital Management LLC purchased a new stake in Vanda Pharmaceuticals in the fourth quarter valued at approximately $17,626,000. Millennium Management LLC boosted 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 purchasing an additional 1,470,898 shares during the last quarter. Marshall Wace LLP boosted 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 purchasing an additional 426,620 shares during the last quarter. Krensavage Asset Management LLC grew its stake in shares of Vanda Pharmaceuticals by 35.9% during the 2nd quarter. Krensavage Asset Management LLC now owns 1,024,883 shares of the biopharmaceutical company’s stock valued at $4,837,000 after buying an additional 270,502 shares during the period. Finally, Stonepine Capital Management LLC increased its holdings in shares of Vanda Pharmaceuticals by 611.3% during the 2nd quarter. Stonepine Capital Management LLC now owns 250,000 shares of the biopharmaceutical company’s stock worth $1,180,000 after buying an additional 214,852 shares during the last quarter. 88.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on VNDA shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a report on Wednesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vanda Pharmaceuticals in a research report on Wednesday, December 17th. B. Riley upped their price target on Vanda Pharmaceuticals from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, December 31st. UBS Group reaffirmed a “buy” rating on shares of Vanda Pharmaceuticals in a research note on Monday, January 5th. Finally, HC Wainwright boosted their target price on Vanda Pharmaceuticals from $20.00 to $22.00 and gave the stock 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 given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.63.

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.