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

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 Upgrades and Downgrades

Several research firms have recently issued reports on VNDA. Jefferies Financial Group boosted their target price on Vanda Pharmaceuticals from $5.00 to $7.50 and gave the company a “hold” rating in a research note on Wednesday, December 31st. UBS Group reaffirmed a “buy” rating on shares of Vanda Pharmaceuticals in a research note on Monday, January 5th. Zacks Research downgraded shares of Vanda Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Truist Financial assumed coverage on shares of Vanda Pharmaceuticals in a research note on Thursday, March 5th. They set a “buy” rating and a $18.00 target price on the stock. Finally, HC Wainwright boosted their price target on shares of Vanda Pharmaceuticals from $22.00 to $24.00 and gave the company a “buy” rating in a research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.90.

Vanda Pharmaceuticals Stock Up 6.3%

The company has a market capitalization of $428.53 million, a P/E ratio of -1.94 and a beta of 0.55. The company has a 50-day moving average of $7.73 and a two-hundred day moving average of $6.35. 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:VNDA) last posted its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported ($2.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.18) by ($0.21). Vanda Pharmaceuticals had a negative return on equity of 23.85% and a negative net margin of 102.02%.The firm had revenue of $57.22 million during the quarter, compared to the consensus estimate of $59.28 million. On average, research analysts predict that Vanda Pharmaceuticals Inc. will post -1.12 EPS for the current year.

Insider Buying and Selling

In other Vanda Pharmaceuticals news, CFO Kevin Patrick Moran sold 42,442 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $8.27, for a total value of $350,995.34. Following the sale, the chief financial officer owned 411,380 shares in the company, valued at approximately $3,402,112.60. This represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gunther Birznieks sold 42,431 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $8.27, for a total transaction of $350,904.37. Following the transaction, the senior vice president directly owned 494,197 shares of the company’s stock, valued at $4,087,009.19. This represents a 7.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 314,342 shares of company stock worth $2,583,985 over the last 90 days. Corporate insiders own 10.00% of the company’s stock.

Institutional Trading of Vanda Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. AIGH Capital Management LLC bought a new position in Vanda Pharmaceuticals during the 4th quarter valued at approximately $17,626,000. Millennium Management LLC boosted its holdings in Vanda Pharmaceuticals by 220.0% in the first quarter. Millennium Management LLC now owns 2,139,591 shares of the biopharmaceutical company’s stock worth $9,821,000 after acquiring an additional 1,470,898 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Vanda Pharmaceuticals by 552.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,428 shares of the biopharmaceutical company’s stock worth $6,248,000 after acquiring an additional 599,818 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Vanda Pharmaceuticals by 945.9% in the second quarter. Marshall Wace LLP now owns 471,720 shares of the biopharmaceutical company’s stock worth $2,227,000 after acquiring an additional 426,620 shares during the last quarter. Finally, Empire Financial Management Company LLC grew its stake in shares of Vanda Pharmaceuticals by 46.2% in the fourth quarter. Empire Financial Management Company LLC now owns 1,108,245 shares of the biopharmaceutical company’s stock worth $9,775,000 after acquiring an additional 350,154 shares during the last quarter. 88.14% of the stock is owned by institutional investors.

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.