HC Wainwright Reiterates “Buy” Rating for Vanda Pharmaceuticals (NASDAQ:VNDA)

HC Wainwright reiterated their buy rating on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a $18.00 price objective on the biopharmaceutical company’s stock.

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

Vanda Pharmaceuticals Stock Performance

Shares of VNDA opened at $4.58 on Tuesday. The company has a market capitalization of $267.06 million, a P/E ratio of -16.36 and a beta of 0.77. The business’s 50-day moving average is $4.72 and its two-hundred day moving average is $4.98. Vanda Pharmaceuticals has a fifty-two week low of $3.46 and a fifty-two week high of $6.75.

Insider Activity at Vanda Pharmaceuticals

In related 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 value of $25,850.00. Following the completion of the sale, the director now owns 44,857 shares of the company’s stock, 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 SEC, which can be accessed through this link. 8.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Several large investors have recently modified their holdings of VNDA. Nantahala Capital Management LLC boosted its stake in Vanda Pharmaceuticals by 57.3% during the second quarter. Nantahala Capital Management LLC now owns 1,593,516 shares of the biopharmaceutical company’s stock worth $9,003,000 after buying an additional 580,265 shares during the period. Dimensional Fund Advisors LP lifted its stake in Vanda Pharmaceuticals by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company’s stock worth $11,379,000 after acquiring an additional 292,172 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Vanda Pharmaceuticals during the third quarter worth $864,000. Geode Capital Management LLC increased its holdings in shares of Vanda Pharmaceuticals by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,425,827 shares of the biopharmaceutical company’s stock valued at $6,689,000 after acquiring an additional 94,870 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Vanda Pharmaceuticals by 128.2% in the third 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 in the last quarter. Institutional investors and hedge funds 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.