Vanda Pharmaceuticals (NASDAQ:VNDA) Now Covered by StockNews.com

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

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

Vanda Pharmaceuticals Stock Performance

Shares of NASDAQ:VNDA opened at $4.81 on Friday. Vanda Pharmaceuticals has a fifty-two week low of $3.46 and a fifty-two week high of $6.75. The firm has a fifty day moving average price of $4.86 and a 200 day moving average price of $5.19. The firm has a market cap of $280.46 million, a price-to-earnings ratio of -17.18 and a beta of 0.76.

Insider Activity

In related news, Director Stephen Ray Mitchell sold 5,000 shares of Vanda Pharmaceuticals 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 sale, the director now directly owns 44,857 shares in the company, valued at $231,910.69. This trade represents a 10.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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 the business. Meeder Asset Management Inc. acquired a new position in shares of Vanda Pharmaceuticals during the second quarter worth about $39,000. ORG Wealth Partners LLC acquired a new position in Vanda Pharmaceuticals during the 3rd quarter worth approximately $40,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Vanda Pharmaceuticals by 64.0% during the 3rd 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 in the last quarter. XTX Topco Ltd acquired a new stake in shares of Vanda Pharmaceuticals in the 2nd quarter valued at approximately $75,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Vanda Pharmaceuticals in the third quarter valued at approximately $84,000. 88.14% of the stock is owned by hedge funds and other institutional investors.

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.