HC Wainwright Reaffirms Buy Rating for Vanda Pharmaceuticals (NASDAQ:VNDA)

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $18.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 317.63% from the company’s current price.

Separately, StockNews.com started coverage on Vanda Pharmaceuticals in a research report on Tuesday, January 28th. They issued a “hold” rating for the company.

Vanda Pharmaceuticals Stock Performance

NASDAQ:VNDA opened at $4.31 on Tuesday. The stock’s fifty day moving average price is $4.70 and its two-hundred day moving average price is $4.95. The company has a market cap of $251.32 million, a price-to-earnings ratio of -15.39 and a beta of 0.74. Vanda Pharmaceuticals has a 52-week low of $3.46 and a 52-week high of $6.75.

Insider Activity at Vanda Pharmaceuticals

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of Vanda Pharmaceuticals stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.17, for a total transaction of $25,850.00. Following the transaction, the director now directly owns 44,857 shares in the company, valued at approximately $231,910.69. The trade was a 10.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. SG Americas Securities LLC raised its holdings in Vanda Pharmaceuticals by 26.8% during the 4th quarter. SG Americas Securities LLC now owns 25,861 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 5,459 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Vanda Pharmaceuticals by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 160,722 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 22,249 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Vanda Pharmaceuticals by 8.8% in the third quarter. Franklin Resources Inc. now owns 55,226 shares of the biopharmaceutical company’s stock valued at $266,000 after purchasing an additional 4,449 shares in the last quarter. Barclays PLC boosted its position in shares of Vanda Pharmaceuticals by 128.2% during the third quarter. Barclays PLC now owns 154,297 shares of the biopharmaceutical company’s stock worth $722,000 after buying an additional 86,677 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Vanda Pharmaceuticals by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,425,827 shares of the biopharmaceutical company’s stock valued at $6,689,000 after acquiring an additional 94,870 shares in the last quarter. Institutional investors own 88.14% of the company’s stock.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs worldwide. The company’s marketed products include HETLIOZ to treat non-24-hour sleep-wake disorders; and Fanapt oral tablets for the treatment of schizophrenia.