Vanda Pharmaceuticals (NASDAQ:VNDA) Given Buy Rating at HC Wainwright

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $20.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 335.73% from the company’s previous close.

Separately, StockNews.com started coverage on Vanda Pharmaceuticals in a report on Wednesday, February 5th. They issued a “hold” rating for the company.

Vanda Pharmaceuticals Price Performance

Shares of VNDA stock opened at $4.59 on Tuesday. The firm has a fifty day moving average of $4.67 and a two-hundred day moving average of $4.74. The firm has a market cap of $267.67 million, a P/E ratio of -14.34 and a beta of 0.69. Vanda Pharmaceuticals has a 1-year low of $3.87 and a 1-year high of $6.75.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. The business had revenue of $53.19 million during the quarter, compared to the consensus estimate of $51.00 million. Vanda Pharmaceuticals had a negative return on equity of 3.49% and a negative net margin of 9.51%. On average, sell-side analysts expect that Vanda Pharmaceuticals will post -1.12 EPS for the current year.

Insider Activity

In related news, CEO Mihael Hristos Polymeropoulos purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $5.02 per share, for a total transaction of $50,200.00. Following the transaction, the chief executive officer now owns 2,285,731 shares of the company’s stock, valued at $11,474,369.62. This trade represents a 0.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders acquired 32,000 shares of company stock valued at $151,180. Company insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in Vanda Pharmaceuticals by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,488,519 shares of the biopharmaceutical company’s stock valued at $11,920,000 after buying an additional 227,428 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Vanda Pharmaceuticals by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,450,310 shares of the biopharmaceutical company’s stock worth $6,949,000 after acquiring an additional 24,483 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Vanda Pharmaceuticals by 4.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 819,382 shares of the biopharmaceutical company’s stock valued at $3,925,000 after purchasing an additional 38,449 shares during the last quarter. Federated Hermes Inc. boosted its stake in Vanda Pharmaceuticals by 1.4% during the 4th quarter. Federated Hermes Inc. now owns 726,619 shares of the biopharmaceutical company’s stock valued at $3,481,000 after purchasing an additional 9,840 shares during the period. Finally, Millennium Management LLC grew its position in Vanda Pharmaceuticals by 67.4% in the 4th quarter. Millennium Management LLC now owns 668,693 shares of the biopharmaceutical company’s stock worth $3,203,000 after purchasing an additional 269,183 shares during the last quarter. Institutional investors and hedge funds 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.