Stock Traders Buy High Volume of Call Options on Vanda Pharmaceuticals (NASDAQ:VNDA)

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) was the target of unusually large options trading on Monday. Stock traders bought 13,610 call options on the stock. This represents an increase of 596% compared to the average daily volume of 1,955 call options.

Institutional Trading of Vanda Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. AIGH Capital Management LLC purchased a new position in Vanda Pharmaceuticals during the 4th quarter worth approximately $17,626,000. Millennium Management LLC grew its position in shares of Vanda Pharmaceuticals by 220.0% during the first quarter. Millennium Management LLC now owns 2,139,591 shares of the biopharmaceutical company’s stock worth $9,821,000 after acquiring an additional 1,470,898 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Vanda Pharmaceuticals by 552.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 708,428 shares of the biopharmaceutical company’s stock valued at $6,248,000 after acquiring an additional 599,818 shares during the period. Marshall Wace LLP increased its holdings in shares of Vanda Pharmaceuticals by 945.9% in the 2nd quarter. Marshall Wace LLP now owns 471,720 shares of the biopharmaceutical company’s stock valued at $2,227,000 after acquiring an additional 426,620 shares during the period. Finally, Empire Financial Management Company LLC raised its position in Vanda Pharmaceuticals by 46.2% in the 4th quarter. Empire Financial Management Company LLC now owns 1,108,245 shares of the biopharmaceutical company’s stock valued at $9,775,000 after purchasing an additional 350,154 shares during the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.

Vanda Pharmaceuticals Stock Up 45.7%

Shares of NASDAQ:VNDA traded up $2.64 during trading hours on Monday, reaching $8.40. The stock had a trading volume of 29,642,731 shares, compared to its average volume of 2,255,784. Vanda Pharmaceuticals has a 1 year low of $3.81 and a 1 year high of $9.60. The firm’s 50 day moving average is $7.32 and its 200-day moving average is $5.76. The stock has a market capitalization of $496.23 million, a price-to-earnings ratio of -2.25 and a beta of 0.62. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.38 and a current ratio of 2.39.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its earnings results on Wednesday, February 11th. The biopharmaceutical company reported ($2.39) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $57.22 million for the quarter, compared to analyst estimates of $59.28 million. Research analysts predict that Vanda Pharmaceuticals will post -1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on VNDA shares. Zacks Research downgraded Vanda Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. UBS Group reiterated a “buy” rating on shares of Vanda Pharmaceuticals in a research note on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Finally, B. Riley Financial raised their price target on shares of Vanda Pharmaceuticals from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, December 31st. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Vanda Pharmaceuticals has a consensus rating of “Hold” and an average price target of $14.13.

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.