Are These Two Stocks To Watch? Vanda Pharmaceuticals Inc (VNDA) and Levy Acquisition Corp (LEVY)
New York, NY – GDP INSIDER – 03/27/2015.
This article discusses two companies: Vanda Pharmaceuticals Inc (NASDAQ:VNDA) and Levy Acquisition Corp (NASDAQ:LEVY)
Vanda Pharmaceuticals Inc (NASDAQ:VNDA) reversed its recent downward trend yesterday with the stock gaining 1.78% or $0.16 to close at $9.15 on extremely active trading of 4.129 million shares, compared to its three month average trading volume of 0.780 million. The researcher and developer of treatments for central nervous system disorders has been trending downwards for the last two weeks, after its phase II proof of concept study on tradipitant showed disappointing results in the treatment of chronic pruritus, for patients afflicted with atopic dermatitis. The news was not all bad, as a significant proportion of the patients in the study showed significant and meaningful responses to the treatment. With the stock down 36.10% so far this year, Vanda Pharmaceuticals Inc has been struggling, but with RSI still low at 29.68 even after today’s gain, the stock still looks undervalued and should continue to rise in the near term, making it a hold for now.
Levy Acquisition Corp (NASDAQ:LEVY) continued it meteoric climb yesterday with the stock hitting another 52 week high of $11.69, before falling back slightly to close down 2.84% or $0.32 at $11.58 with more than 1.794 million shares changing hands, compared to its three month average trading volume of 0.157 million. The blank check company specialized in facilitating mergers, reorganizations and asset acquisitions, has been climbing since Monday when it completed its recapitalization of Del Taco Holdings Inc, by injecting $120 million into the common stock. This gives Levy Acquisition Corp a 46% stake in the company as well as several board seats. Levy Acquisition Corp has been having a good year with the stock up 19.01% this year, far outperforming the S&P 500 which is down 0.13% over the same period. With RSI now very high at 88.55 it looks like Levy Acquisition Corp is heading for a new trading range making it a hold.
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