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

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report)'s stock had its "buy" rating restated by analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $20.00 price objective on the biopharmaceutical company's stock. HC Wainwright's target price would suggest a potential upside of 386.03% from the company's previous close.

Separately, StockNews.com began coverage on Vanda Pharmaceuticals in a research note on Wednesday, February 5th. They issued a "hold" rating on the stock.

Vanda Pharmaceuticals Trading Up 4.2%

Shares of Vanda Pharmaceuticals stock traded up $0.17 during trading on Wednesday, reaching $4.12. The stock had a trading volume of 425,985 shares, compared to its average volume of 725,992. The company has a market capitalization of $242.51 million, a price-to-earnings ratio of -12.89 and a beta of 0.69. The stock has a fifty day moving average price of $4.52 and a two-hundred day moving average price of $4.65. Vanda Pharmaceuticals has a 52 week low of $3.85 and a 52 week high of $6.75.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.50) EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $0.05. The company had revenue of $50.04 million for the quarter, compared to analyst estimates of $45.13 million. Vanda Pharmaceuticals had a negative return on equity of 3.49% and a negative net margin of 9.51%. On average, equities analysts forecast that Vanda Pharmaceuticals will post -1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mihael Hristos Polymeropoulos purchased 10,000 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $4.76 per share, with a total value of $47,600.00. Following the completion of the acquisition, the chief executive officer now owns 2,361,730 shares in the company, valued at $11,241,834.80. This represents a 0.43% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders acquired 32,000 shares of company stock worth $151,180. Company insiders own 10.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Vanda Pharmaceuticals by 13.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 929,644 shares of the biopharmaceutical company's stock worth $4,267,000 after acquiring an additional 110,262 shares during the period. XTX Topco Ltd increased its holdings in Vanda Pharmaceuticals by 378.3% in the 1st quarter. XTX Topco Ltd now owns 69,329 shares of the biopharmaceutical company's stock worth $318,000 after buying an additional 54,833 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Vanda Pharmaceuticals by 88.0% in the 1st quarter. GSA Capital Partners LLP now owns 260,215 shares of the biopharmaceutical company's stock worth $1,194,000 after buying an additional 121,797 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Vanda Pharmaceuticals in the 1st quarter worth about $875,000. Finally, Bailard Inc. bought a new stake in Vanda Pharmaceuticals in the 1st quarter worth about $103,000. 88.14% of the stock is currently owned by 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.