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

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

Separately, HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Vanda Pharmaceuticals in a research note on Monday, December 23rd.

Vanda Pharmaceuticals Stock Performance

Vanda Pharmaceuticals stock opened at $4.51 on Monday. Vanda Pharmaceuticals has a fifty-two week low of $3.46 and a fifty-two week high of $6.75. The firm has a 50 day moving average price of $4.81 and a 200 day moving average price of $5.03. The company has a market capitalization of $262.98 million, a PE ratio of -16.11 and a beta of 0.77.

Insider Buying and Selling

In related news, Director Stephen Ray Mitchell sold 5,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.17, for a total value of $25,850.00. Following the completion of the sale, the director now directly owns 44,857 shares of the company’s stock, valued at $231,910.69. The trade was a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in VNDA. Nantahala Capital Management LLC raised its holdings in shares of 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 valued at $9,003,000 after buying an additional 580,265 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Vanda Pharmaceuticals by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company’s stock valued at $11,379,000 after buying an additional 292,172 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Vanda Pharmaceuticals in the third quarter valued at about $864,000. Geode Capital Management LLC raised its holdings in shares of Vanda Pharmaceuticals by 7.1% in 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 buying an additional 94,870 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Vanda Pharmaceuticals by 128.2% in the third quarter. Barclays PLC now owns 154,297 shares of the biopharmaceutical company’s stock valued at $722,000 after buying an additional 86,677 shares during the last quarter. 88.14% of the stock is owned by hedge funds and other 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.