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

Shares of 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 trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VNDA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a report on Wednesday, January 21st. HC Wainwright upped their target price 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. Truist Financial initiated coverage on shares of Vanda Pharmaceuticals in a research note on Thursday, March 5th. They issued a “buy” rating and a $18.00 price target for the company. Wall Street Zen cut shares of Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Vanda Pharmaceuticals in a research report on Wednesday, December 17th. Five equities research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.90.

Vanda Pharmaceuticals Stock Up 1.2%

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

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported ($2.39) EPS 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 company had revenue of $57.22 million during the quarter, compared to analysts’ expectations of $59.28 million. On average, equities research analysts expect that Vanda Pharmaceuticals Inc. will post -1.12 EPS for the current fiscal year.

Insider Activity at Vanda Pharmaceuticals

In other Vanda Pharmaceuticals news, CMO Joakim Wijkstrom sold 30,800 shares of Vanda Pharmaceuticals stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $8.27, for a total transaction of $254,716.00. Following the transaction, the chief marketing officer owned 333,469 shares of the company’s stock, valued at $2,757,788.63. The trade was a 8.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy Williams sold 42,434 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $8.27, for a total transaction of $350,929.18. Following the completion of the transaction, the senior vice president owned 377,450 shares of the company’s stock, valued at approximately $3,121,511.50. The trade was a 10.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 314,342 shares of company stock worth $2,583,985 in the last quarter. 8.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VNDA. Vanguard Group Inc. boosted its holdings in Vanda Pharmaceuticals by 0.4% in the 3rd 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 period. Millennium Management LLC raised its holdings in 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 acquiring an additional 1,470,898 shares during the period. AIGH Capital Management LLC bought a new stake in Vanda Pharmaceuticals during the fourth quarter valued at about $17,626,000. Geode Capital Management LLC lifted its position in shares of Vanda Pharmaceuticals by 4.8% in 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 lifted its position in shares of Vanda Pharmaceuticals by 15.2% in 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. 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.