Vanda Pharmaceuticals (NASDAQ:VNDA) CMO Sells $254,716.00 in Stock

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) CMO Joakim Wijkstrom sold 30,800 shares of the company’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 value of $254,716.00. Following the completion of the transaction, the chief marketing officer owned 333,469 shares in the company, valued at approximately $2,757,788.63. The trade was a 8.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Vanda Pharmaceuticals Stock Performance

NASDAQ:VNDA opened at $7.89 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.38. The business has a fifty day simple moving average of $7.60 and a two-hundred day simple moving average of $6.01. Vanda Pharmaceuticals Inc. has a 1 year low of $3.81 and a 1 year high of $9.60. The company has a market capitalization of $466.38 million, a P/E ratio of -2.12 and a beta of 0.55.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its earnings results on Wednesday, February 11th. The biopharmaceutical company reported ($2.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.18) by ($0.21). The firm had revenue of $57.22 million during the quarter, compared to the consensus estimate of $59.28 million. Vanda Pharmaceuticals had a negative net margin of 102.02% and a negative return on equity of 23.85%. On average, analysts expect that Vanda Pharmaceuticals Inc. will post -1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VNDA shares. B. Riley Financial upped their price objective on shares of Vanda Pharmaceuticals from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, December 31st. Truist Financial assumed coverage on shares of Vanda Pharmaceuticals in a research report on Thursday. They issued a “buy” rating and a $18.00 price target on the stock. HC Wainwright upped their price target on shares of Vanda Pharmaceuticals from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vanda Pharmaceuticals in a report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Vanda Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $14.90.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VNDA. Torren Management LLC purchased a new position in Vanda Pharmaceuticals during the 4th quarter valued at about $25,000. Russell Investments Group Ltd. lifted its holdings in shares of Vanda Pharmaceuticals by 456.6% in the third quarter. Russell Investments Group Ltd. now owns 6,495 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 5,328 shares in the last quarter. CWM LLC boosted its position in shares of Vanda Pharmaceuticals by 424.6% in the second quarter. CWM LLC now owns 9,359 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 7,575 shares during the period. Quarry LP bought a new position in shares of Vanda Pharmaceuticals in the third quarter valued at approximately $53,000. Finally, Cerity Partners LLC purchased a new position in Vanda Pharmaceuticals during the second quarter valued at approximately $69,000. Hedge funds and other institutional investors 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.