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

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating reiterated by equities research 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 target price indicates a potential upside of 304.49% from the stock’s previous close.

Separately, StockNews.com initiated coverage on Vanda Pharmaceuticals in a report on Tuesday. They issued a “hold” rating for the company.

Vanda Pharmaceuticals Price Performance

Shares of NASDAQ:VNDA opened at $4.45 on Tuesday. Vanda Pharmaceuticals has a one year low of $3.46 and a one year high of $6.75. The firm has a market capitalization of $259.48 million, a price-to-earnings ratio of -15.89 and a beta of 0.77. The company’s fifty day moving average price is $4.74 and its 200-day moving average price is $5.00.

Insiders Place Their Bets

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of Vanda Pharmaceuticals 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 transaction, the director now directly owns 44,857 shares of the company’s stock, valued at $231,910.69. The trade was a 10.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings 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. grew its position in shares of Vanda Pharmaceuticals by 16.1% in the 3rd 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. increased its stake 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 period. Barclays PLC raised its holdings in shares of Vanda Pharmaceuticals by 128.2% during the third quarter. Barclays PLC now owns 154,297 shares of the biopharmaceutical company’s stock valued at $722,000 after acquiring an additional 86,677 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Vanda Pharmaceuticals by 7.1% in the third quarter. Geode Capital Management LLC now owns 1,425,827 shares of the biopharmaceutical company’s stock worth $6,689,000 after acquiring an additional 94,870 shares during the period. Hedge funds and other institutional investors own 88.14% of the company’s stock.

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.