Vanda Pharmaceuticals (NASDAQ:VNDA) Receives Buy Rating from HC Wainwright

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $18.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 313.79% from the stock’s current price.

Separately, StockNews.com began coverage on Vanda Pharmaceuticals in a report on Monday. They set a “hold” rating for the company.

Vanda Pharmaceuticals Stock Down 3.5 %

NASDAQ:VNDA opened at $4.35 on Tuesday. Vanda Pharmaceuticals has a 52 week low of $3.46 and a 52 week high of $6.75. The business’s 50 day moving average is $4.79 and its two-hundred day moving average is $5.02. The company has a market cap of $253.65 million, a PE ratio of -15.54 and a beta of 0.77.

Insider Activity

In other news, Director Stephen Ray Mitchell sold 5,000 shares of Vanda Pharmaceuticals stock in a transaction 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 directly owns 44,857 shares in the company, valued at approximately $231,910.69. This trade represents a 10.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ORG Wealth Partners LLC acquired a new position in shares of Vanda Pharmaceuticals in the 3rd quarter valued at $40,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Vanda Pharmaceuticals by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 4,374 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Vanda Pharmaceuticals during the 2nd quarter worth about $75,000. Intech Investment Management LLC acquired a new stake in Vanda Pharmaceuticals in the third quarter valued at approximately $84,000. Finally, SG Americas Securities LLC lifted its stake in shares of Vanda Pharmaceuticals by 88.5% in the 3rd quarter. SG Americas Securities LLC now owns 20,402 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 9,580 shares during the last quarter. 88.14% of the stock is 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.