Vanda Pharmaceuticals (NASDAQ:VNDA) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research report released on Thursday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright assumed coverage on Vanda Pharmaceuticals in a research note on Thursday, October 31st. They set a “buy” rating and a $18.00 target price for the company.

Vanda Pharmaceuticals Trading Up 1.8 %

Shares of VNDA stock opened at $4.63 on Thursday. The firm has a fifty day simple moving average of $4.86 and a 200-day simple moving average of $5.22. The company has a market capitalization of $269.97 million, a PE ratio of -16.54 and a beta of 0.76. Vanda Pharmaceuticals has a twelve month low of $3.46 and a twelve month high of $6.75.

Insider Buying and Selling

In related 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 approximately $231,910.69. This represents a 10.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new position in shares of Vanda Pharmaceuticals during the second quarter valued at approximately $39,000. ORG Wealth Partners LLC bought a new position in Vanda Pharmaceuticals during the 3rd quarter worth $40,000. China Universal Asset Management Co. Ltd. increased its position in Vanda Pharmaceuticals by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 4,374 shares during the period. SG Americas Securities LLC bought a new stake in Vanda Pharmaceuticals in the second quarter valued at $61,000. Finally, XTX Topco Ltd acquired a new position in shares of Vanda Pharmaceuticals during the second quarter valued at $75,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

About Vanda Pharmaceuticals

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.