HC Wainwright Cuts Vanda Pharmaceuticals (NASDAQ:VNDA) Price Target to $21.00

Vanda Pharmaceuticals (NASDAQ:VNDA) had its price target reduced by equities research analysts at HC Wainwright from $24.00 to $21.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 234.39% from the stock’s current price.

Several other analysts have also recently commented on VNDA. Zacks Research cut shares of Vanda Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a research note on Monday, April 20th. Truist Financial started coverage on shares of Vanda Pharmaceuticals in a research note on Thursday, March 5th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Wall Street Zen cut shares of Vanda Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Vanda Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $14.30.

Vanda Pharmaceuticals Price Performance

VNDA opened at $6.28 on Monday. Vanda Pharmaceuticals has a one year low of $3.81 and a one year high of $9.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.16 and a quick ratio of 2.15. The company’s 50 day simple moving average is $7.57 and its 200-day simple moving average is $6.79. The stock has a market capitalization of $377.62 million, a P/E ratio of -1.55 and a beta of 0.65.

Vanda Pharmaceuticals (NASDAQ:VNDA) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.13). Vanda Pharmaceuticals had a negative net margin of 109.99% and a negative return on equity of 32.26%. The company had revenue of $51.72 million for the quarter, compared to the consensus estimate of $54.98 million. Sell-side analysts anticipate that Vanda Pharmaceuticals will post -2.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Timothy Williams sold 42,434 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $8.27, for a total value of $350,929.18. Following the transaction, the senior vice president directly owned 377,450 shares in the company, valued at $3,121,511.50. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Joakim Wijkstrom sold 30,800 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $8.27, for a total transaction of $254,716.00. Following the completion of the transaction, the chief marketing officer owned 333,469 shares in the company, valued at $2,757,788.63. This represents a 8.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 314,342 shares of company stock valued at $2,583,985 over the last three months. 8.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Torren Management LLC acquired a new stake in Vanda Pharmaceuticals in the fourth quarter worth $25,000. Russell Investments Group Ltd. raised its holdings in Vanda Pharmaceuticals by 456.6% in the third quarter. Russell Investments Group Ltd. now owns 6,495 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 5,328 shares during the period. Quarry LP acquired a new stake in Vanda Pharmaceuticals in the third quarter worth $53,000. Cerity Partners LLC acquired a new stake in Vanda Pharmaceuticals in the second quarter worth $69,000. Finally, Boothbay Fund Management LLC acquired a new stake in Vanda Pharmaceuticals in the third quarter worth $72,000. 88.14% of the stock is currently owned by institutional investors and hedge funds.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders and rare diseases. The company’s research and development efforts center on sleep-wake regulation, mood disorders, and movement disorders. Vanda’s mission is to address unmet medical needs by advancing novel molecules through clinical trials and regulatory review.

Vanda’s flagship commercial product is Hetlioz (tasimelteon), a melatonin receptor agonist approved by the U.S.