Vanda Pharmaceuticals Inc. (VNDA) Trading Down 2.5% on Insider Selling
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)’s share price was down 2.5% on Wednesday after an insider sold shares in the company. The company traded as low as $16.21 and last traded at $16.41, with a volume of 441,660 shares. The stock had previously closed at $16.83.
Specifically, insider James E. Flynn sold 547,886 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $15.66, for a total value of $8,579,894.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James E. Flynn sold 1,120,461 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $16.56, for a total value of $18,554,834.16. The disclosure for this sale can be found here. 8.45% of the stock is owned by insiders.
A number of brokerages recently issued reports on VNDA. Brean Capital restated a “buy” rating and issued a $24.00 target price (up previously from $20.00) on shares of Vanda Pharmaceuticals in a research note on Monday, August 29th. JMP Securities raised their target price on Vanda Pharmaceuticals from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Friday, August 26th. Piper Jaffray Cos. set a $16.00 target price on Vanda Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, August 18th. Zacks Investment Research upgraded Vanda Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, August 2nd. Finally, Jefferies Group reiterated a “buy” rating on shares of Vanda Pharmaceuticals in a research note on Friday, June 10th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Vanda Pharmaceuticals has an average rating of “Buy” and a consensus price target of $18.17.
The company’s market capitalization is $722.84 million. The firm’s 50-day moving average price is $14.76 and its 200-day moving average price is $11.14.
Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its earnings results on Wednesday, July 27th. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.12. The firm earned $36.02 million during the quarter, compared to the consensus estimate of $36.03 million. Vanda Pharmaceuticals had a negative net margin of 31.85% and a negative return on equity of 22.51%. The company’s revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. Equities research analysts expect that Vanda Pharmaceuticals Inc. will post ($0.61) earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC purchased a new position in shares of Vanda Pharmaceuticals during the first quarter worth approximately $102,000. Bank of Montreal Can purchased a new position in shares of Vanda Pharmaceuticals during the second quarter worth approximately $132,000. UBS Asset Management Americas Inc. increased its position in shares of Vanda Pharmaceuticals by 10.9% in the second quarter. UBS Asset Management Americas Inc. now owns 16,300 shares of the biopharmaceutical company’s stock worth $182,000 after buying an additional 1,600 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Vanda Pharmaceuticals during the second quarter worth approximately $192,000. Finally, Jane Street Group LLC purchased a new position in shares of Vanda Pharmaceuticals during the second quarter worth approximately $200,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.
Vanda Pharmaceuticals Company Profile
Vanda Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of pharmaceutical products for the treatment of central nervous system (CNS) disorders. The Company’s product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051.
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