Vanda Pharmaceuticals (NASDAQ:VNDA) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.54 and traded as high as $5.12. Vanda Pharmaceuticals shares last traded at $5.02, with a volume of 703,151 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Vanda Pharmaceuticals in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Vanda Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 price target on shares of Vanda Pharmaceuticals in a research report on Wednesday, May 14th.

Vanda Pharmaceuticals Stock Down 5.0%

The stock's 50-day moving average is $4.49 and its 200-day moving average is $4.54. The firm has a market cap of $279.33 million, a P/E ratio of -6.32 and a beta of 0.68.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.55) by $0.05. Vanda Pharmaceuticals had a negative net margin of 21.98% and a negative return on equity of 8.30%. The business had revenue of $50.04 million for the quarter, compared to analyst estimates of $45.13 million. As a group, analysts expect that Vanda Pharmaceuticals Inc. will post -1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 7,000 shares of Vanda Pharmaceuticals stock in a transaction on Friday, June 13th. The shares were sold at an average price of $4.59, for a total transaction of $32,130.00. Following the sale, the director owned 97,082 shares in the company, valued at $445,606.38. The trade was a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mihael Hristos Polymeropoulos purchased 10,000 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were acquired at an average price of $4.40 per share, for a total transaction of $44,000.00. Following the purchase, the chief executive officer directly owned 2,325,731 shares of the company's stock, valued at approximately $10,233,216.40. This represents a 0.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in VNDA. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Vanda Pharmaceuticals by 4.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 819,382 shares of the biopharmaceutical company's stock valued at $3,925,000 after purchasing an additional 38,449 shares in the last quarter. Monaco Asset Management SAM boosted its stake in shares of Vanda Pharmaceuticals by 92.8% in the 4th quarter. Monaco Asset Management SAM now owns 392,262 shares of the biopharmaceutical company's stock valued at $1,879,000 after purchasing an additional 188,836 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Vanda Pharmaceuticals by 2.1% in the 4th quarter. American Century Companies Inc. now owns 300,276 shares of the biopharmaceutical company's stock valued at $1,438,000 after purchasing an additional 6,079 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Vanda Pharmaceuticals in the 4th quarter valued at $649,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Vanda Pharmaceuticals by 108.9% in the 4th quarter. JPMorgan Chase & Co. now owns 335,741 shares of the biopharmaceutical company's stock valued at $1,608,000 after purchasing an additional 175,019 shares in the last quarter. Institutional investors and hedge funds own 88.14% of the company's stock.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs worldwide. The company's marketed products include HETLIOZ to treat non-24-hour sleep-wake disorders; and Fanapt oral tablets for the treatment of schizophrenia.