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 note published on Monday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the stock. HC Wainwright initiated coverage on shares of Vanda Pharmaceuticals in a research note on Thursday, October 31st. They set a “buy” rating and a $18.00 target price for the company. Cantor Fitzgerald increased their price objective on Vanda Pharmaceuticals from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st.

Vanda Pharmaceuticals Stock Performance

NASDAQ:VNDA opened at $5.05 on Monday. The firm’s fifty day moving average is $4.80 and its two-hundred day moving average is $5.26. The firm has a market cap of $294.46 million, a price-to-earnings ratio of -18.29 and a beta of 0.77. Vanda Pharmaceuticals has a one year low of $3.46 and a one year high of $6.75.

Insiders Place Their Bets

In related news, Director Stephen Ray Mitchell sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.17, for a total value of $25,850.00. Following the completion of the transaction, the director now directly owns 44,857 shares in the company, valued at approximately $231,910.69. This represents a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Several large investors have recently modified their holdings of VNDA. Meeder Asset Management Inc. acquired a new stake in shares of Vanda Pharmaceuticals during the second quarter valued at about $39,000. ORG Wealth Partners LLC acquired a new stake in shares of Vanda Pharmaceuticals in the third quarter valued at $40,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Vanda Pharmaceuticals by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 4,374 shares during the period. SG Americas Securities LLC acquired a new position in Vanda Pharmaceuticals during the 2nd quarter worth about $61,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Vanda Pharmaceuticals by 18.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,824 shares of the biopharmaceutical company’s stock valued at $66,000 after acquiring an additional 2,425 shares during the period. Institutional investors and hedge funds 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.