Vanda Pharmaceuticals’ (VNDA) “Buy” Rating Reiterated at HC Wainwright

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

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

Vanda Pharmaceuticals Stock Down 1.8 %

Shares of VNDA stock opened at $4.36 on Tuesday. Vanda Pharmaceuticals has a 52-week low of $3.46 and a 52-week high of $6.75. The stock has a market cap of $254.23 million, a PE ratio of -15.57 and a beta of 0.77. The business has a 50-day simple moving average of $4.81 and a 200-day simple moving average of $5.03.

Insider Activity

In other 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 transaction of $25,850.00. Following the transaction, the director now owns 44,857 shares in the company, valued at $231,910.69. This trade represents a 10.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Vanda Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in VNDA. American Century Companies Inc. raised its position in shares of Vanda Pharmaceuticals by 7.5% during the 2nd quarter. American Century Companies Inc. now owns 269,971 shares of the biopharmaceutical company’s stock worth $1,525,000 after purchasing an additional 18,733 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Vanda Pharmaceuticals by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company’s stock worth $11,379,000 after buying an additional 292,172 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Vanda Pharmaceuticals during the second quarter valued at approximately $75,000. AQR Capital Management LLC lifted its position in shares of Vanda Pharmaceuticals by 181.7% in the second quarter. AQR Capital Management LLC now owns 75,889 shares of the biopharmaceutical company’s stock valued at $429,000 after acquiring an additional 48,945 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its stake in shares of Vanda Pharmaceuticals by 2.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 287,677 shares of the biopharmaceutical company’s stock worth $1,625,000 after acquiring an additional 5,994 shares during the last quarter. 88.14% of the stock is currently owned by institutional investors and hedge funds.

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.