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Vanda Pharmaceuticals Trading Higher on 1.6x Above-Average Volume (VNDA)

Published on Fri, 05/10/2013 - 13:15
By Peter Chu

Vanda Pharmaceuticals's stock is up 1.6% to $5.14 on heavy trading volume. Today's volume of 371,000 shares tops the average 30-day volume of 232,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

Vanda Pharmaceuticals share prices have moved between a 52-week high of $5.17 and a 52-week low of $2.92 and are now trading 76% above that low price at $5.14 per share. The 200-day and 50-day moving averages have moved 0.23% higher and 2.04% higher over the past week, respectively.

Potential upside of 65.4% exists for Vanda Pharmaceuticals, based on a current level of $5.14 and analysts' average consensus price target of $8.50. The stock should find initial support at its 50-day moving average (MA) of $4.23 and further support at its 200-day MA of $3.96.

Vanda Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of clinical-stage, small molecule product candidates for central nervous system disorders.

By Peter Chu