Vanda Pharmaceuticals (NASDAQ:VNDA) Shares Pass Above 200-Day Moving Average - Here's What Happened

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.77 and traded as high as $5.10. Vanda Pharmaceuticals shares last traded at $4.95, with a volume of 658,725 shares traded.

Analyst Ratings Changes

A number of research firms have recently commented on VNDA. HC Wainwright upped their price target on shares of Vanda Pharmaceuticals from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. StockNews.com assumed coverage on shares of Vanda Pharmaceuticals in a research note on Wednesday, February 5th. They issued a "hold" rating on the stock.

Vanda Pharmaceuticals Trading Down 0.6 %

The firm has a market capitalization of $288.66 million, a P/E ratio of -15.47 and a beta of 0.69. The stock has a 50-day simple moving average of $4.60 and a two-hundred day simple moving average of $4.77.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.06. Vanda Pharmaceuticals had a negative return on equity of 3.49% and a negative net margin of 9.51%. The firm had revenue of $53.19 million for the quarter, compared to analyst estimates of $51.00 million. As a group, research analysts expect that Vanda Pharmaceuticals Inc. will post -1.12 EPS for the current year.

Insider Transactions at Vanda Pharmaceuticals

In related news, CEO Mihael Hristos Polymeropoulos purchased 10,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $4.76 per share, for a total transaction of $47,600.00. Following the acquisition, the chief executive officer now owns 2,361,730 shares of the company's stock, valued at $11,241,834.80. The trade was a 0.43 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 32,000 shares of company stock valued at $151,180. Company insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in VNDA. Quantinno Capital Management LP purchased a new stake in shares of Vanda Pharmaceuticals during the fourth quarter valued at about $48,000. XTX Topco Ltd purchased a new stake in Vanda Pharmaceuticals during the fourth quarter valued at approximately $69,000. Zacks Investment Management acquired a new stake in Vanda Pharmaceuticals in the fourth quarter valued at approximately $74,000. Intech Investment Management LLC purchased a new position in Vanda Pharmaceuticals in the third quarter worth $84,000. Finally, ProShare Advisors LLC grew its holdings in Vanda Pharmaceuticals by 32.4% in the fourth quarter. ProShare Advisors LLC now owns 18,815 shares of the biopharmaceutical company's stock worth $90,000 after purchasing an additional 4,599 shares during the last quarter. Institutional investors own 88.14% of the company's stock.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs worldwide. The company's marketed products include HETLIOZ to treat non-24-hour sleep-wake disorders; and Fanapt oral tablets for the treatment of schizophrenia.

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