Vanda Pharmaceuticals (NASDAQ:VNDA) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a $18.00 target price on the biopharmaceutical company’s stock.

Separately, StockNews.com initiated coverage on Vanda Pharmaceuticals in a research report on Tuesday. They issued a “hold” rating for the company.

Vanda Pharmaceuticals Price Performance

VNDA opened at $4.44 on Tuesday. The company has a market capitalization of $258.90 million, a price-to-earnings ratio of -15.86 and a beta of 0.77. Vanda Pharmaceuticals has a 1-year low of $3.46 and a 1-year high of $6.75. The business has a 50 day moving average price of $4.72 and a two-hundred day moving average price of $4.98.

Insider Activity

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the 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 in the company, valued at approximately $231,910.69. This represents a 10.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 modified their holdings of the stock. Verition Fund Management LLC lifted its position 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 valued at $189,000 after acquiring an additional 2,927 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Vanda Pharmaceuticals by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 596,210 shares of the biopharmaceutical company’s stock valued at $2,796,000 after purchasing an additional 3,473 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 purchasing an additional 4,374 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Vanda Pharmaceuticals by 8.8% in the third 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 in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Vanda Pharmaceuticals by 26.8% in the fourth quarter. SG Americas Securities LLC now owns 25,861 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 5,459 shares in the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.

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.