Vanda Pharmaceuticals (VNDA) Trading 9.2% Higher Following Strong Earnings

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)’s share price traded up 9.2% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $20.47 and last traded at $20.12. 2,452,372 shares changed hands during mid-day trading, an increase of 134% from the average session volume of 1,049,783 shares. The stock had previously closed at $18.42.

The biopharmaceutical company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.22. Vanda Pharmaceuticals had a net margin of 7.06% and a return on equity of 5.88%. The firm had revenue of $53.04 million during the quarter, compared to analysts’ expectations of $51.56 million. During the same period last year, the company posted ($0.04) EPS. The company’s quarterly revenue was up 19.8% compared to the same quarter last year.

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Several equities research analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 target price on shares of Vanda Pharmaceuticals in a research report on Thursday. Cantor Fitzgerald reaffirmed a “reduce” rating and issued a $26.00 target price on shares of Vanda Pharmaceuticals in a research report on Thursday. BidaskClub cut shares of Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday. TheStreet cut shares of Vanda Pharmaceuticals from a “b-” rating to a “c+” rating in a research report on Thursday, February 7th. Finally, ValuEngine cut shares of Vanda Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.75.

In related news, CFO James Patrick Kelly sold 6,061 shares of Vanda Pharmaceuticals stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $26.37, for a total transaction of $159,828.57. Following the completion of the transaction, the chief financial officer now directly owns 196,221 shares of the company’s stock, valued at approximately $5,174,347.77. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Gian Piero Reverberi sold 1,130 shares of Vanda Pharmaceuticals stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $26.59, for a total transaction of $30,046.70. Following the transaction, the senior vice president now directly owns 136,569 shares of the company’s stock, valued at $3,631,369.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,427 shares of company stock valued at $591,496. 7.80% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Advisor Group Inc. increased its stake in Vanda Pharmaceuticals by 66.2% during the 4th quarter. Advisor Group Inc. now owns 2,916 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 1,161 shares in the last quarter. LS Investment Advisors LLC increased its stake in Vanda Pharmaceuticals by 109.3% during the 4th quarter. LS Investment Advisors LLC now owns 3,662 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 1,912 shares in the last quarter. Neuburgh Advisers LLC bought a new stake in Vanda Pharmaceuticals during the 4th quarter valued at about $132,000. South Dakota Investment Council bought a new stake in Vanda Pharmaceuticals during the 4th quarter valued at about $167,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Vanda Pharmaceuticals during the 4th quarter valued at about $224,000. Institutional investors and hedge funds own 99.33% of the company’s stock.

The company has a market cap of $920.50 million, a price-to-earnings ratio of -57.49, a PEG ratio of 1.46 and a beta of 0.70.

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Vanda Pharmaceuticals Company Profile (NASDAQ:VNDA)

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system disorders. The company's marketed products include HETLIOZ (tasimelteon), a product for the treatment of non-24-hour sleep-wake disorders; and Fanapt (iloperidone), a product for the treatment of schizophrenia.

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