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

HC Wainwright restated their buy rating on shares of Vanda Pharmaceuticals (NASDAQ:VNDA - Free Report) in a report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a $18.00 target price on the biopharmaceutical company's stock.

Separately, StockNews.com initiated coverage on shares of Vanda Pharmaceuticals in a research note on Tuesday, January 28th. They issued a "hold" rating on the stock.

Vanda Pharmaceuticals Stock Performance

Shares of NASDAQ VNDA traded up $0.16 during mid-day trading on Tuesday, reaching $4.69. The company had a trading volume of 590,405 shares, compared to its average volume of 574,167. The company has a market capitalization of $273.47 million, a price-to-earnings ratio of -16.75 and a beta of 0.74. The stock has a fifty day moving average of $4.66 and a two-hundred day moving average of $4.92. Vanda Pharmaceuticals has a 12-month low of $3.61 and a 12-month high of $6.75.

Insider Activity at Vanda Pharmaceuticals

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of the business's stock in a transaction dated 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. The trade was a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC raised its position in shares of Vanda Pharmaceuticals by 7.8% in the third quarter. Verition Fund Management LLC now owns 40,285 shares of the biopharmaceutical company's stock valued at $189,000 after purchasing an additional 2,927 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $2,796,000 after acquiring an additional 3,473 shares during the period. China Universal Asset Management Co. Ltd. grew its position 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 last quarter. Franklin Resources Inc. grew its position 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 during the last quarter. Finally, SG Americas Securities LLC increased its stake 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 worth $124,000 after purchasing an additional 5,459 shares during the period. 88.14% of the stock is currently owned by institutional investors and hedge funds.

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.