Vanda Pharmaceuticals (NASDAQ:VNDA) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Vanda's shares crossed above their 200-day moving average of $6.73, trading as high as $7.02 and last at $6.84 on volume of about 1.03M shares.
• Analyst coverage is mixed—five Buys, two Holds and one Sell—giving a consensus rating of “Moderate Buy” and a $14.90 average price target.
• The company missed quarterly estimates (EPS -$2.39 vs. -$2.18), reported negative profitability metrics, and insiders sold roughly 314,342 shares (~$2.58M) in the last quarter.

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.73 and traded as high as $7.02. Vanda Pharmaceuticals shares last traded at $6.84, with a volume of 1,032,408 shares.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group reiterated a "buy" rating on shares of Vanda Pharmaceuticals in a research note on Monday, January 5th. Truist Financial assumed coverage on shares of Vanda Pharmaceuticals in a research note on Thursday, March 5th. They issued a "buy" rating and a $18.00 price target for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vanda Pharmaceuticals in a research note on Monday, April 20th. Wall Street Zen downgraded shares of Vanda Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, February 14th. Finally, Zacks Research downgraded shares of Vanda Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.90.

Vanda Pharmaceuticals Trading Up 0.7%

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 business's fifty day simple moving average is $7.54 and its two-hundred day simple moving average is $6.73. The company has a market cap of $411.29 million, a price-to-earnings ratio of -1.83 and a beta of 0.71.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $57.22 million for the quarter, compared to analyst estimates of $59.28 million. On average, equities analysts predict that Vanda Pharmaceuticals Inc. will post -2.18 EPS for the current year.

Insider Activity at Vanda Pharmaceuticals

In other Vanda Pharmaceuticals news, 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 sale, the senior vice president 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mihael Hristos Polymeropoulos sold 156,235 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $8.17, for a total transaction of $1,276,439.95. Following the sale, the chief executive officer directly owned 2,704,496 shares in the company, valued at approximately $22,095,732.32. The trade was a 5.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 314,342 shares of company stock valued at $2,583,985 in the last quarter. Company insiders own 8.90% of the company's stock.

Institutional Trading of Vanda Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings 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 worth $17,900,000 after purchasing an additional 14,336 shares in the last quarter. Millennium Management LLC raised its holdings in Vanda Pharmaceuticals by 220.0% during the first quarter. Millennium Management LLC now owns 2,139,591 shares of the biopharmaceutical company's stock worth $9,821,000 after purchasing an additional 1,470,898 shares in the last quarter. AIGH Capital Management LLC acquired a new position in shares of Vanda Pharmaceuticals in the 4th quarter valued at $17,626,000. Krensavage Asset Management LLC raised its position in Vanda Pharmaceuticals by 15.2% in 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 purchasing an additional 155,505 shares during the last quarter. Finally, Empire Financial Management Company LLC raised its position in Vanda Pharmaceuticals by 46.2% in the 4th quarter. Empire Financial Management Company LLC now owns 1,108,245 shares of the biopharmaceutical company's stock valued at $9,775,000 after purchasing an additional 350,154 shares during the last quarter. Institutional investors and hedge funds own 88.14% of the company's stock.

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.

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