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

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

Separately, StockNews.com initiated coverage on shares of Vanda Pharmaceuticals in a report on Tuesday, January 28th. They issued a “hold” rating on the stock.

Vanda Pharmaceuticals Price Performance

Vanda Pharmaceuticals stock opened at $4.53 on Tuesday. The firm has a 50 day simple moving average of $4.67 and a 200-day simple moving average of $4.93. Vanda Pharmaceuticals has a 1-year low of $3.46 and a 1-year high of $6.75. The stock has a market cap of $264.14 million, a price-to-earnings ratio of -16.18 and a beta of 0.74.

Insider Transactions at Vanda Pharmaceuticals

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were 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 owns 44,857 shares of the company’s stock, 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 this link. Company insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Vanda Pharmaceuticals by 7.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 780,933 shares of the biopharmaceutical company’s stock worth $3,663,000 after purchasing an additional 55,567 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Vanda Pharmaceuticals by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 596,210 shares of the biopharmaceutical company’s stock worth $2,796,000 after acquiring an additional 3,473 shares in the last quarter. Empowered Funds LLC raised its stake in Vanda Pharmaceuticals by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 228,287 shares of the biopharmaceutical company’s stock worth $1,071,000 after acquiring an additional 11,524 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Vanda Pharmaceuticals during the 3rd quarter worth $864,000. 88.14% of the stock is 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.