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

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $18.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 304.49% from the company’s current price.

Separately, StockNews.com assumed coverage on shares of Vanda Pharmaceuticals in a research note on Tuesday. They set a “hold” rating for the company.

Vanda Pharmaceuticals Trading Up 1.1 %

Shares of VNDA stock opened at $4.45 on Tuesday. The company’s fifty day moving average price is $4.74 and its 200-day moving average price is $5.00. The stock has a market cap of $259.48 million, a PE ratio of -15.89 and a beta of 0.77. Vanda Pharmaceuticals has a 12 month low of $3.46 and a 12 month high of $6.75.

Insider Buying and Selling

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

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several institutional investors have recently modified their holdings of VNDA. ORG Wealth Partners LLC purchased a new stake in Vanda Pharmaceuticals during the 3rd quarter valued at $40,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Vanda Pharmaceuticals by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 4,374 shares during the period. XTX Topco Ltd purchased a new position in shares of Vanda Pharmaceuticals in the second quarter worth approximately $75,000. Intech Investment Management LLC bought a new stake in Vanda Pharmaceuticals during the third quarter valued at approximately $84,000. Finally, SG Americas Securities LLC increased its holdings in Vanda Pharmaceuticals by 88.5% during the third quarter. SG Americas Securities LLC now owns 20,402 shares of the biopharmaceutical company’s stock valued at $96,000 after buying an additional 9,580 shares during the last quarter. 88.14% of the stock is owned by hedge funds and other institutional investors.

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.