Vanda Pharmaceuticals’ (VNDA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a report published on Tuesday,Benzinga reports. HC Wainwright currently has a $18.00 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com initiated coverage on shares of Vanda Pharmaceuticals in a research report on Monday. They set a “hold” rating for the company.

Vanda Pharmaceuticals Price Performance

Shares of VNDA opened at $4.42 on Tuesday. Vanda Pharmaceuticals has a one year low of $3.46 and a one year high of $6.75. The company has a market cap of $257.73 million, a P/E ratio of -15.79 and a beta of 0.77. The firm has a 50 day simple moving average of $4.77 and a two-hundred day simple moving average of $5.02.

Insider Activity at Vanda Pharmaceuticals

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of the stock in a transaction that occurred 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 approximately $231,910.69. This represents a 10.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in Vanda Pharmaceuticals in the third quarter valued at $40,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Vanda Pharmaceuticals by 64.0% in the 3rd 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. XTX Topco Ltd bought a new stake in shares of Vanda Pharmaceuticals during the 2nd quarter valued at about $75,000. Intech Investment Management LLC acquired a new stake in Vanda Pharmaceuticals during the third quarter worth approximately $84,000. Finally, SG Americas Securities LLC increased its holdings in Vanda Pharmaceuticals by 88.5% in the third quarter. SG Americas Securities LLC now owns 20,402 shares of the biopharmaceutical company’s stock worth $96,000 after purchasing an additional 9,580 shares in 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.