Vanda Pharmaceuticals (NASDAQ:VNDA) Trading 8.1% Higher – Here’s What Happened

Shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) rose 8.1% on Monday . The stock traded as high as $8.56 and last traded at $8.53. Approximately 1,227,542 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 2,782,062 shares. The stock had previously closed at $7.89.

Analyst Upgrades and Downgrades

VNDA has been the subject of several recent research reports. Truist Financial assumed coverage on Vanda Pharmaceuticals in a research note on Thursday. They issued a “buy” rating and a $18.00 price target for the company. Zacks Research downgraded Vanda Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, January 21st. HC Wainwright lifted their price objective on Vanda Pharmaceuticals from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Finally, B. Riley Financial increased their target price on Vanda Pharmaceuticals from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.90.

Vanda Pharmaceuticals Stock Performance

The firm has a fifty day simple moving average of $7.60 and a 200 day simple moving average of $6.03. 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 $514.55 million, a price-to-earnings ratio of -2.32 and a beta of 0.55.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released 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). The firm had revenue of $57.22 million for the quarter, compared to the consensus estimate 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 Inc. will post -1.12 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Gunther Birznieks sold 42,431 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $8.27, for a total transaction of $350,904.37. Following the completion of the transaction, the senior vice president directly owned 494,197 shares of the company’s stock, valued at approximately $4,087,009.19. This trade represents a 7.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mihael Hristos Polymeropoulos sold 156,235 shares of Vanda Pharmaceuticals stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $8.17, for a total transaction of $1,276,439.95. Following the sale, the chief executive officer owned 2,704,496 shares in the company, valued at approximately $22,095,732.32. This trade represents a 5.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 314,342 shares of company stock worth $2,583,985. Insiders own 8.90% of the company’s stock.

Institutional Trading of Vanda Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its holdings in shares of Vanda Pharmaceuticals by 8,629.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 29,158 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 28,824 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in Vanda Pharmaceuticals by 51.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 43,829 shares of the biopharmaceutical company’s stock valued at $387,000 after purchasing an additional 14,836 shares during the last quarter. Susquehanna Portfolio Strategies LLC boosted its stake in Vanda Pharmaceuticals by 35.1% in the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 150,427 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 39,087 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Vanda Pharmaceuticals during the fourth quarter worth $601,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Vanda Pharmaceuticals during the fourth quarter worth $521,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

Vanda Pharmaceuticals Company Profile

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.