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

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $20.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 335.73% from the stock’s previous close.

Separately, StockNews.com initiated coverage on shares of Vanda Pharmaceuticals in a report on Wednesday, February 5th. They set a “hold” rating on the stock.

Vanda Pharmaceuticals Price Performance

Shares of NASDAQ VNDA opened at $4.59 on Tuesday. The firm’s 50-day moving average is $4.67 and its two-hundred day moving average is $4.74. The company has a market capitalization of $267.67 million, a PE ratio of -14.34 and a beta of 0.69. Vanda Pharmaceuticals has a 12-month low of $3.87 and a 12-month high of $6.75.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.06. Vanda Pharmaceuticals had a negative return on equity of 3.49% and a negative net margin of 9.51%. The business had revenue of $53.19 million for the quarter, compared to analyst estimates of $51.00 million. On average, analysts forecast that Vanda Pharmaceuticals will post -1.12 EPS for the current fiscal year.

Insider Activity at Vanda Pharmaceuticals

In related news, CEO Mihael Hristos Polymeropoulos purchased 10,000 shares of Vanda Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $5.02 per share, with a total value of $50,200.00. Following the transaction, the chief executive officer now owns 2,285,731 shares of the company’s stock, valued at approximately $11,474,369.62. The trade was a 0.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have acquired 32,000 shares of company stock worth $151,180. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Vanda Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in Vanda Pharmaceuticals by 1,184.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 62,238 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 57,393 shares in the last quarter. FMR LLC grew its stake in shares of Vanda Pharmaceuticals by 25.9% during the third quarter. FMR LLC now owns 149,739 shares of the biopharmaceutical company’s stock valued at $702,000 after acquiring an additional 30,802 shares in the last quarter. Barclays PLC increased its position 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 worth $722,000 after acquiring an additional 86,677 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Vanda Pharmaceuticals by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 160,722 shares of the biopharmaceutical company’s stock worth $754,000 after acquiring an additional 22,249 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 valued at $6,689,000 after purchasing an additional 94,870 shares during the last quarter. 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.