Vanda Pharmaceuticals (NASDAQ:VNDA) Coverage Initiated by Analysts at Seaport Global Securities

Investment analysts at Seaport Global Securities began coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a report issued on Friday, January 19th, MarketBeat reports. The brokerage set a “buy” rating and a $20.00 price target on the biopharmaceutical company’s stock. Seaport Global Securities’ price target suggests a potential upside of 26.18% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Vanda Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Oppenheimer set a $26.00 target price on Vanda Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, October 29th. BidaskClub upgraded Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. ValuEngine upgraded Vanda Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, Piper Jaffray Companies set a $26.00 target price on Vanda Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Vanda Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $21.14.

Shares of Vanda Pharmaceuticals (NASDAQ:VNDA) remained flat at $$15.85 on Friday. 669,049 shares of the stock traded hands, compared to its average volume of 555,648. The stock has a market cap of $707.61, a P/E ratio of -49.53 and a beta of 1.23. Vanda Pharmaceuticals has a twelve month low of $11.90 and a twelve month high of $18.99.

In related news, CFO James Patrick Kelly sold 9,155 shares of Vanda Pharmaceuticals stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $15.35, for a total transaction of $140,529.25. Following the sale, the chief financial officer now directly owns 144,721 shares in the company, valued at $2,221,467.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gunther Birznieks sold 8,568 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $15.26, for a total value of $130,747.68. Following the completion of the sale, the senior vice president now directly owns 118,366 shares in the company, valued at $1,806,265.16. The disclosure for this sale can be found here. Insiders have sold 209,483 shares of company stock worth $3,205,205 over the last three months. Insiders own 7.60% of the company’s stock.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Vanda Pharmaceuticals by 2.4% during the fourth quarter. BlackRock Inc. now owns 4,568,159 shares of the biopharmaceutical company’s stock valued at $69,436,000 after purchasing an additional 106,228 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vanda Pharmaceuticals by 7.5% during the second quarter. Vanguard Group Inc. now owns 2,680,895 shares of the biopharmaceutical company’s stock valued at $43,698,000 after purchasing an additional 186,548 shares in the last quarter. Armistice Capital LLC lifted its holdings in shares of Vanda Pharmaceuticals by 74.8% during the fourth quarter. Armistice Capital LLC now owns 2,678,000 shares of the biopharmaceutical company’s stock valued at $40,706,000 after purchasing an additional 1,146,000 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Vanda Pharmaceuticals by 10.9% during the third quarter. Macquarie Group Ltd. now owns 1,890,085 shares of the biopharmaceutical company’s stock valued at $33,833,000 after purchasing an additional 186,526 shares in the last quarter. Finally, State Street Corp increased its position in Vanda Pharmaceuticals by 2.9% during the second quarter. State Street Corp now owns 1,618,485 shares of the biopharmaceutical company’s stock valued at $26,380,000 after acquiring an additional 46,299 shares during the last quarter. 88.19% of the stock is currently owned by hedge funds and other institutional investors.

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Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies to address unmet medical needs. Its product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051. It offers HETLIOZ for the treatment of Non-24-Hour Sleep-Wake Disorder (Non-24).

Analyst Recommendations for Vanda Pharmaceuticals (NASDAQ:VNDA)

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