Vanda Pharmaceuticals, Inc. (VNDA) was a big mover last session as its shares surged nearly 96% on the day. The phenomenal rise can be attributed to solid volume with far more shares changing hands than in a normal session as the U.S. Food and Drug Administration will start reviewing tasimelteon, the company's sleep disorder drug. This surge reverses the latest trend for the healthcare stock which was down over 123% since Sep 18.
The company has seen one positive revision in the last 30 days and its Zacks Consensus Estimate moved higher over the same time period, signifying that more solid trading could be ahead for Vanda Pharmaceuticals. So stay glued to this stock going forward to see if yesterday’s upsurge can translate into more strength down the road.
Vanda Pharmaceuticals currently has a Zacks Rank #1 (Strong Buy) while its Earnings ESP is positive.
Some other biotechnology stocks worth considering include Actelion Ltd. (ALIOF), AMAG Pharmaceuticals, Inc. (AMAG) and Heska Corporation (HSKA). All three stocks carry a Zacks Rank #1.
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