Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Short Interest Update

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 4,346,005 shares, a growth of 25.3% from the February 12th total of 3,469,008 shares. Currently, 8.1% of the shares of the company are sold short. Based on an average trading volume of 6,341,392 shares, the short-interest ratio is currently 0.7 days. Based on an average trading volume of 6,341,392 shares, the short-interest ratio is currently 0.7 days. Currently, 8.1% of the shares of the company are sold short.

Analyst Ratings Changes

VNDA has been the topic of a number of recent research reports. UBS Group reiterated a “buy” rating on shares of Vanda Pharmaceuticals in a research report on Monday, January 5th. Truist Financial started coverage on shares of Vanda Pharmaceuticals in a research note on Thursday, March 5th. They set a “buy” rating and a $18.00 price objective for the company. HC Wainwright upped their price objective on shares of Vanda Pharmaceuticals from $22.00 to $24.00 and gave the company a “buy” rating in a report on Monday, February 23rd. B. Riley Financial increased their price objective on shares of Vanda Pharmaceuticals from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, December 31st. Finally, Jefferies Financial Group raised their target price on shares of Vanda Pharmaceuticals from $5.00 to $7.50 and gave the stock a “hold” rating in a report on Wednesday, December 31st. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.90.

Vanda Pharmaceuticals Stock Down 5.2%

Shares of VNDA stock opened at $8.81 on Friday. The stock has a 50 day moving average of $7.71 and a 200 day moving average of $6.18. The company has a current ratio of 2.39, a quick ratio of 2.38 and a debt-to-equity ratio of 0.01. The stock has a market cap of $520.76 million, a P/E ratio of -2.36 and a beta of 0.55. Vanda Pharmaceuticals has a twelve month low of $3.81 and a twelve month high of $9.94.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its quarterly earnings results 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). The company had revenue of $57.22 million during the quarter, compared to analyst estimates of $59.28 million. Vanda Pharmaceuticals had a negative net margin of 102.02% and a negative return on equity of 23.85%. As a group, sell-side analysts expect that Vanda Pharmaceuticals 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 Vanda Pharmaceuticals stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $8.27, for a total transaction of $350,995.34. Following the completion of the sale, the chief financial officer owned 411,380 shares of the company’s stock, valued at approximately $3,402,112.60. The trade was a 9.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Gunther Birznieks sold 42,431 shares of the business’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 $350,904.37. Following the sale, the senior vice president owned 494,197 shares in the company, valued at approximately $4,087,009.19. The trade was a 7.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 314,342 shares of company stock worth $2,583,985 over the last three months. Corporate insiders own 10.00% of the company’s stock.

Institutional Trading of Vanda Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Vanda Pharmaceuticals by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,587,139 shares of the biopharmaceutical company’s stock valued at $17,900,000 after buying an additional 14,336 shares during the period. Millennium Management LLC raised its position in shares of 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 during the period. AIGH Capital Management LLC purchased a new stake in shares of Vanda Pharmaceuticals during the 4th quarter worth about $17,626,000. Geode Capital Management LLC boosted its stake in shares of Vanda Pharmaceuticals by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,691,638 shares of the biopharmaceutical company’s stock worth $7,986,000 after acquiring an additional 77,997 shares in the last quarter. Finally, Krensavage Asset Management LLC grew its position in shares of Vanda Pharmaceuticals by 15.2% during the 3rd quarter. Krensavage Asset Management LLC now owns 1,180,388 shares of the biopharmaceutical company’s stock valued at $5,890,000 after acquiring an additional 155,505 shares during the period. 88.14% of the stock is owned by hedge funds and other 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.