StockNews.com Initiates Coverage on Vanda Pharmaceuticals (NASDAQ:VNDA)

Analysts at StockNews.com started coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note issued on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Vanda Pharmaceuticals in a report on Monday, December 23rd.

Vanda Pharmaceuticals Price Performance

NASDAQ VNDA opened at $4.81 on Friday. Vanda Pharmaceuticals has a 52 week low of $3.46 and a 52 week high of $6.75. The company has a market capitalization of $280.46 million, a P/E ratio of -17.18 and a beta of 0.76. The stock’s 50-day moving average price is $4.86 and its 200-day moving average price is $5.18.

Insider Activity

In related news, Director Stephen Ray Mitchell sold 5,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 44,857 shares in the company, valued at approximately $231,910.69. This represents a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Vanda Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Vanda Pharmaceuticals by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company’s stock worth $11,379,000 after acquiring an additional 292,172 shares in the last quarter. Nantahala Capital Management LLC increased its position in Vanda Pharmaceuticals by 57.3% in the second quarter. Nantahala Capital Management LLC now owns 1,593,516 shares of the biopharmaceutical company’s stock worth $9,003,000 after purchasing an additional 580,265 shares during the last quarter. Geode Capital Management LLC raised its stake in Vanda Pharmaceuticals by 7.1% during the third quarter. Geode Capital Management LLC now owns 1,425,827 shares of the biopharmaceutical company’s stock valued at $6,689,000 after purchasing an additional 94,870 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Vanda Pharmaceuticals by 7.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 780,933 shares of the biopharmaceutical company’s stock valued at $3,663,000 after purchasing an additional 55,567 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Vanda Pharmaceuticals by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 596,210 shares of the biopharmaceutical company’s stock worth $2,796,000 after buying an additional 3,473 shares in the last quarter. Hedge funds and other 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.