Vanda Pharmaceuticals (NASDAQ:VNDA) Shares Gap Up – Time to Buy?

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) gapped up prior to trading on Wednesday . The stock had previously closed at $8.60, but opened at $9.11. Vanda Pharmaceuticals shares last traded at $8.6870, with a volume of 221,801 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Zacks Research cut Vanda Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, December 17th. Jefferies Financial Group lifted their price target on shares of Vanda Pharmaceuticals from $5.00 to $7.50 and gave the company a “hold” rating in a report on Wednesday, December 31st. HC Wainwright boosted their price objective on shares of Vanda Pharmaceuticals from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.90.

Vanda Pharmaceuticals Stock Performance

The company has a market capitalization of $514.38 million, a PE ratio of -2.34 and a beta of 0.55. The business’s 50-day moving average is $7.74 and its 200-day moving average is $6.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.38 and a current ratio of 2.39.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced 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 business had revenue of $57.22 million during the quarter, compared to analysts’ expectations of $59.28 million. On average, research analysts anticipate that Vanda Pharmaceuticals Inc. will post -1.12 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Kevin Patrick Moran sold 42,442 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $8.27, for a total value of $350,995.34. Following the sale, the chief financial officer directly owned 411,380 shares of the company’s stock, valued at approximately $3,402,112.60. This represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mihael Hristos Polymeropoulos sold 156,235 shares of the firm’s stock in a transaction on 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 $22,095,732.32. The trade was a 5.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 314,342 shares of company stock worth $2,583,985 over the last three months. Corporate insiders own 8.90% of the company’s stock.

Institutional Trading of Vanda Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Vanda Pharmaceuticals by 0.4% in the third quarter. Vanguard Group Inc. now owns 3,587,139 shares of the biopharmaceutical company’s stock worth $17,900,000 after buying an additional 14,336 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Vanda Pharmaceuticals by 220.0% during the first quarter. Millennium Management LLC now owns 2,139,591 shares of the biopharmaceutical company’s stock valued at $9,821,000 after buying an additional 1,470,898 shares during the last quarter. AIGH Capital Management LLC purchased a new stake in shares of Vanda Pharmaceuticals during the fourth quarter valued at approximately $17,626,000. Geode Capital Management LLC increased its position in shares of Vanda Pharmaceuticals by 4.8% during the second quarter. Geode Capital Management LLC now owns 1,691,638 shares of the biopharmaceutical company’s stock valued at $7,986,000 after acquiring an additional 77,997 shares in the last quarter. Finally, Krensavage Asset Management LLC increased its position in shares of Vanda Pharmaceuticals by 15.2% during the third 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 in the last quarter. 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.