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

Investment analysts at StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note issued on Thursday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

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

Vanda Pharmaceuticals Stock Up 3.2 %

VNDA opened at $4.78 on Thursday. The company has a market cap of $278.71 million, a P/E ratio of -17.07 and a beta of 0.76. The firm’s 50-day moving average price is $4.86 and its 200-day moving average price is $5.22. Vanda Pharmaceuticals has a 52-week low of $3.46 and a 52-week high of $6.75.

Insider Buying and Selling

In related news, Director Stephen Ray Mitchell sold 5,000 shares of Vanda Pharmaceuticals stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.17, for a total value of $25,850.00. Following the sale, the director now directly owns 44,857 shares in the company, valued at approximately $231,910.69. The trade was a 10.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in Vanda Pharmaceuticals during the 2nd quarter worth approximately $39,000. ORG Wealth Partners LLC purchased a new stake in shares of Vanda Pharmaceuticals in the 3rd quarter valued at approximately $40,000. China Universal Asset Management Co. Ltd. increased its stake 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 valued at $53,000 after purchasing an additional 4,374 shares during the last quarter. SG Americas Securities LLC acquired a new position in Vanda Pharmaceuticals during the second quarter worth approximately $61,000. Finally, XTX Topco Ltd purchased a new stake in shares of Vanda Pharmaceuticals in the second quarter valued at about $75,000. 88.14% of the stock is currently owned by institutional investors and hedge funds.

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.