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

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $18.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 312.84% from the company’s current price.

Separately, StockNews.com started coverage on Vanda Pharmaceuticals in a research report on Monday. They set a “hold” rating on the stock.

Vanda Pharmaceuticals Trading Down 1.8 %

VNDA stock opened at $4.36 on Tuesday. The firm has a 50-day moving average of $4.81 and a two-hundred day moving average of $5.03. Vanda Pharmaceuticals has a 12 month low of $3.46 and a 12 month high of $6.75. The company has a market cap of $254.23 million, a price-to-earnings ratio of -15.57 and a beta of 0.77.

Insiders Place Their Bets

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

Institutional Trading of Vanda Pharmaceuticals

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

About Vanda Pharmaceuticals

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.