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

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $18.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 272.67% from the stock’s previous close.

Separately, StockNews.com assumed coverage on Vanda Pharmaceuticals in a research report on Thursday, December 19th. They set a “hold” rating on the stock.

Vanda Pharmaceuticals Stock Performance

Vanda Pharmaceuticals stock opened at $4.83 on Monday. The firm has a market cap of $281.63 million, a price-to-earnings ratio of -17.25 and a beta of 0.76. Vanda Pharmaceuticals has a 1 year low of $3.46 and a 1 year high of $6.75. The firm’s 50 day moving average price is $4.86 and its two-hundred day moving average price is $5.21.

Insider Transactions at Vanda Pharmaceuticals

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of Vanda Pharmaceuticals stock in a transaction on Thursday, November 14th. The shares were 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 $231,910.69. This trade represents a 10.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 8.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. raised its position in shares of Vanda Pharmaceuticals by 4.3% in the second quarter. Panagora Asset Management Inc. now owns 60,434 shares of the biopharmaceutical company’s stock valued at $341,000 after purchasing an additional 2,509 shares during the period. Verition Fund Management LLC grew its holdings in shares of Vanda Pharmaceuticals by 7.8% during the 3rd quarter. Verition Fund Management LLC now owns 40,285 shares of the biopharmaceutical company’s stock worth $189,000 after purchasing an additional 2,927 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Vanda Pharmaceuticals by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 596,210 shares of the biopharmaceutical company’s stock worth $2,796,000 after buying an additional 3,473 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Vanda Pharmaceuticals by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 4,374 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Vanda Pharmaceuticals by 8.8% in the 3rd quarter. Franklin Resources Inc. now owns 55,226 shares of the biopharmaceutical company’s stock valued at $266,000 after purchasing an additional 4,449 shares during the period. 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.