Vanda Pharmaceuticals (NASDAQ:VNDA) Earns Buy Rating from HC Wainwright

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $18.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 297.35% from the stock’s current price.

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

Vanda Pharmaceuticals Price Performance

VNDA stock opened at $4.53 on Tuesday. The company has a 50 day simple moving average of $4.72 and a 200 day simple moving average of $4.98. The stock has a market cap of $264.14 million, a price-to-earnings ratio of -16.18 and a beta of 0.77. Vanda Pharmaceuticals has a 1 year low of $3.46 and a 1 year high of $6.75.

Insider Activity at Vanda Pharmaceuticals

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.17, for a total transaction of $25,850.00. Following the transaction, the director now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 8.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.