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

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

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

Vanda Pharmaceuticals Price Performance

VNDA opened at $4.36 on Monday. The firm has a market cap of $254.23 million, a PE ratio of -15.57 and a beta of 0.77. The stock has a 50-day moving average price of $4.81 and a 200-day moving average price of $5.03. Vanda Pharmaceuticals has a 1 year low of $3.46 and a 1 year high of $6.75.

Insider Buying and Selling

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 44,857 shares of the company’s stock, valued at $231,910.69. This trade represents a 10.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Nantahala Capital Management LLC raised its position in shares of Vanda Pharmaceuticals by 57.3% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in 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 worth $11,379,000 after buying an additional 292,172 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Vanda Pharmaceuticals during the third quarter valued at $864,000. Geode Capital Management LLC raised its stake 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 acquiring an additional 94,870 shares during the period. Finally, Barclays PLC boosted its stake in shares of Vanda Pharmaceuticals by 128.2% during the 3rd quarter. Barclays PLC now owns 154,297 shares of the biopharmaceutical company’s stock worth $722,000 after purchasing an additional 86,677 shares during the period. 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.