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

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $18.00 price objective on the biopharmaceutical company's stock. HC Wainwright's price target suggests a potential upside of 284.62% from the stock's current price.

Separately, StockNews.com began coverage on Vanda Pharmaceuticals in a research report on Thursday. They set a "hold" rating on the stock.

Vanda Pharmaceuticals Stock Down 2.1 %

Shares of NASDAQ VNDA traded down $0.10 during midday trading on Monday, reaching $4.68. 683,799 shares of the company's stock traded hands, compared to its average volume of 1,234,206. The company has a market cap of $272.88 million, a price-to-earnings ratio of -16.71 and a beta of 0.76. The stock's 50 day simple moving average is $4.86 and its 200-day simple moving average is $5.21. Vanda Pharmaceuticals has a one year low of $3.46 and a one year high of $6.75.

Insider Transactions at Vanda Pharmaceuticals

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the firm's stock in a transaction 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 of the company's stock, valued at $231,910.69. This trade represents a 10.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new stake in shares of Vanda Pharmaceuticals during the second quarter valued at $39,000. ORG Wealth Partners LLC purchased a new stake in Vanda Pharmaceuticals during the 3rd quarter valued at about $40,000. China Universal Asset Management Co. Ltd. increased 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 during the period. SG Americas Securities LLC purchased a new position in shares of Vanda Pharmaceuticals in the second quarter worth about $61,000. Finally, XTX Topco Ltd acquired a new stake in shares of Vanda Pharmaceuticals during the second quarter worth about $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.