HC Wainwright Reaffirms “Buy” Rating for Vanda Pharmaceuticals (NASDAQ:VNDA)

Vanda Pharmaceuticals (NASDAQ:VNDA)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $18.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 276.57% from the stock’s current price.

Separately, StockNews.com began coverage on Vanda Pharmaceuticals in a research note on Thursday. They issued a “hold” rating for the company.

Vanda Pharmaceuticals Stock Up 3.2 %

NASDAQ:VNDA opened at $4.78 on Monday. The business’s 50-day simple moving average is $4.86 and its two-hundred day simple moving average is $5.22. Vanda Pharmaceuticals has a 52 week low of $3.46 and a 52 week high of $6.75. The stock has a market cap of $278.71 million, a PE ratio of -17.07 and a beta of 0.76.

Insider Buying and Selling at Vanda Pharmaceuticals

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 44,857 shares of the company’s stock, valued at $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 available at the SEC website. Insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Large investors have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new position in Vanda Pharmaceuticals during the second quarter valued at $39,000. ORG Wealth Partners LLC purchased a new stake in shares of Vanda Pharmaceuticals during the 3rd quarter valued at about $40,000. China Universal Asset Management Co. Ltd. lifted its holdings 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 acquiring an additional 4,374 shares during the last quarter. SG Americas Securities LLC purchased a new position in Vanda Pharmaceuticals in the second quarter worth about $61,000. Finally, XTX Topco Ltd bought a new stake in Vanda Pharmaceuticals during the second quarter worth approximately $75,000. Institutional investors 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.