Vanda Pharmaceuticals (NASDAQ:VNDA) Reaches New 1-Year High – Still a Buy?

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) reached a new 52-week high during trading on Tuesday . The company traded as high as $9.66 and last traded at $9.6520, with a volume of 921470 shares. The stock had previously closed at $8.68.

Wall Street Analyst Weigh In

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

Vanda Pharmaceuticals Trading Up 12.6%

The company has a current ratio of 2.39, a quick ratio of 2.38 and a debt-to-equity ratio of 0.01. The company has a market cap of $577.98 million, a PE ratio of -2.58 and a beta of 0.55. The company has a fifty day simple moving average of $7.63 and a two-hundred day simple moving average of $6.06.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its earnings results on Wednesday, February 11th. The biopharmaceutical company reported ($2.39) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $59.28 million. Analysts anticipate that Vanda Pharmaceuticals Inc. will post -1.12 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kevin Patrick Moran sold 42,442 shares of the 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 $350,995.34. Following the sale, the chief financial officer directly owned 411,380 shares in the company, valued at $3,402,112.60. This represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mihael Hristos Polymeropoulos sold 156,235 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $8.17, for a total value of $1,276,439.95. Following the transaction, the chief executive officer directly owned 2,704,496 shares in the company, valued at approximately $22,095,732.32. This represents a 5.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 314,342 shares of company stock worth $2,583,985. 8.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Stonepine Capital Management LLC raised its holdings in shares of Vanda Pharmaceuticals by 611.3% during the 2nd quarter. Stonepine Capital Management LLC now owns 250,000 shares of the biopharmaceutical company’s stock valued at $1,180,000 after purchasing an additional 214,852 shares in the last quarter. Squarepoint Ops LLC boosted its position in Vanda Pharmaceuticals by 96.5% in the second quarter. Squarepoint Ops LLC now owns 153,345 shares of the biopharmaceutical company’s stock valued at $724,000 after buying an additional 75,295 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Vanda Pharmaceuticals by 16.5% during the third quarter. JPMorgan Chase & Co. now owns 199,893 shares of the biopharmaceutical company’s stock worth $997,000 after purchasing an additional 28,238 shares in the last quarter. Readystate Asset Management LP acquired a new position in Vanda Pharmaceuticals in the third quarter valued at approximately $138,000. Finally, Savant Capital LLC increased its position in shares of Vanda Pharmaceuticals by 30.3% in the 3rd quarter. Savant Capital LLC now owns 22,493 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 5,229 shares in the last quarter. 88.14% of the stock is currently owned by institutional investors and hedge funds.

Vanda Pharmaceuticals Company Profile

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.