Vanda Pharmaceuticals (NASDAQ:VNDA) Sets New 52-Week High - What's Next?

Key Points

• Vanda Pharmaceuticals shares hit a new 52-week high of $9.66 (last $9.6520) on heavy volume (~921,470 shares) and the company has a market cap of about $578 million.
• Analysts are mixed but moderately positive — the consensus is a “Moderate Buy” with five Buy ratings, an average target price of $14.90, and B. Riley raising its target to $14.
• The company reported an earnings miss (Q EPS -$2.39 vs. est. -$2.18) with negative net margin and ROE, a forecasted -1.12 EPS for the year, and significant insider selling this quarter (314,342 shares sold, including the CEO), while insiders still own 8.9% of shares.

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $9.66 and last traded at $9.6520, with a volume of 921470 shares trading hands. The stock had previously closed at $8.68.

Analyst Ratings Changes

A number of research firms have issued reports on VNDA. Zacks Research lowered shares of Vanda Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Wall Street Zen lowered Vanda Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, February 14th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, December 17th. B. Riley Financial raised their price objective on Vanda Pharmaceuticals from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, December 31st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Vanda Pharmaceuticals in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Vanda Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $14.90.

Vanda Pharmaceuticals Price Performance

The company has a quick ratio of 2.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. The company's fifty day moving average price is $7.63 and its two-hundred day moving average price is $6.06. The company has a market cap of $577.98 million, a price-to-earnings ratio of -2.58 and a beta of 0.55.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last issued its earnings results on Wednesday, February 11th. The biopharmaceutical company reported ($2.39) earnings per share 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 for the quarter, compared to analyst estimates of $59.28 million. On average, equities research analysts forecast that Vanda Pharmaceuticals Inc. will post -1.12 EPS for the current fiscal year.

Insider Buying and Selling at Vanda Pharmaceuticals

In related news, CEO Mihael Hristos Polymeropoulos sold 156,235 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $8.17, for a total value of $1,276,439.95. Following the transaction, the chief executive officer owned 2,704,496 shares of the company's stock, valued at approximately $22,095,732.32. This trade represents a 5.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Joakim Wijkstrom sold 30,800 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $8.27, for a total value of $254,716.00. Following the sale, the chief marketing officer directly owned 333,469 shares of the company's stock, valued at $2,757,788.63. The trade was a 8.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 314,342 shares of company stock worth $2,583,985 over the last quarter. Insiders own 8.90% of the company's stock.

Institutional Trading of Vanda Pharmaceuticals

A number of large investors have recently modified their holdings of VNDA. Stonepine Capital Management LLC grew its position in 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 acquiring an additional 214,852 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Vanda Pharmaceuticals by 96.5% in the 2nd quarter. Squarepoint Ops LLC now owns 153,345 shares of the biopharmaceutical company's stock worth $724,000 after purchasing an additional 75,295 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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 valued at $7,986,000 after purchasing an additional 77,997 shares during the last quarter. Bailard Inc. grew its stake in shares of Vanda Pharmaceuticals by 16.2% in the second quarter. Bailard Inc. now owns 26,100 shares of the biopharmaceutical company's stock worth $123,000 after acquiring an additional 3,631 shares during the period. Finally, AIGH Capital Management LLC purchased a new stake in Vanda Pharmaceuticals during the 4th quarter valued at $17,626,000. Institutional investors 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.

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