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

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $18.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 276.57% from the stock’s current price.

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

Vanda Pharmaceuticals Trading Up 3.2 %

Vanda Pharmaceuticals stock opened at $4.78 on Monday. Vanda Pharmaceuticals has a 12-month low of $3.46 and a 12-month high of $6.75. The firm has a 50-day moving average price of $4.86 and a 200-day moving average price of $5.22. The firm has a market capitalization of $278.71 million, a PE ratio of -17.07 and a beta of 0.76.

Insider Buying and Selling

In related news, Director Stephen Ray Mitchell sold 5,000 shares of the business’s 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 completion of the sale, the director now owns 44,857 shares in the company, valued at approximately $231,910.69. The trade was a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of Vanda Pharmaceuticals during the 2nd quarter worth $39,000. ORG Wealth Partners LLC bought a new position in Vanda Pharmaceuticals during the 3rd quarter worth about $40,000. China Universal Asset Management Co. Ltd. grew its holdings in Vanda Pharmaceuticals by 64.0% during the 3rd 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. SG Americas Securities LLC bought a new stake in shares of Vanda Pharmaceuticals in the 2nd quarter valued at about $61,000. Finally, XTX Topco Ltd purchased a new stake in shares of Vanda Pharmaceuticals in the 2nd quarter worth approximately $75,000. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

Vanda Pharmaceuticals Company Profile

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.