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

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $18.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 317.63% from the company’s previous close.

Separately, StockNews.com began coverage on Vanda Pharmaceuticals in a report on Tuesday, January 28th. They set a “hold” rating on the stock.

Vanda Pharmaceuticals Price Performance

Vanda Pharmaceuticals stock opened at $4.31 on Tuesday. Vanda Pharmaceuticals has a fifty-two week low of $3.46 and a fifty-two week high of $6.75. The firm has a market capitalization of $251.32 million, a PE ratio of -15.39 and a beta of 0.74. The company’s 50-day moving average is $4.70 and its 200-day moving average is $4.95.

Insider Buying and Selling at Vanda Pharmaceuticals

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 completion of the sale, the director now owns 44,857 shares of the company’s stock, valued at approximately $231,910.69. This trade represents a 10.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Vanda Pharmaceuticals

A number of hedge funds have recently bought and sold shares of VNDA. Massachusetts Financial Services Co. MA acquired a new stake in Vanda Pharmaceuticals during the third quarter worth approximately $864,000. Geode Capital Management LLC boosted its stake 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 buying an additional 94,870 shares in the last quarter. Barclays PLC boosted its position 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 buying an additional 86,677 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Vanda Pharmaceuticals by 1,184.6% in the third quarter. BNP Paribas Financial Markets now owns 62,238 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 57,393 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in 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 acquiring an additional 55,567 shares during the last quarter. 88.14% of the stock is owned by 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.