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

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

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

Vanda Pharmaceuticals Stock Down 1.4 %

Shares of Vanda Pharmaceuticals stock opened at $4.84 on Tuesday. The company has a market cap of $282.22 million, a PE ratio of -17.29 and a beta of 0.76. The business has a 50 day moving average price of $4.83 and a 200-day moving average price of $5.25. Vanda Pharmaceuticals has a 52 week low of $3.46 and a 52 week high of $6.75.

Insider Buying and Selling at Vanda Pharmaceuticals

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $231,910.69. This trade represents a 10.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.90% of the stock is owned by corporate insiders.

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. Price T Rowe Associates Inc. MD raised its position in shares of Vanda Pharmaceuticals by 18.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,824 shares of the biopharmaceutical company’s stock worth $66,000 after buying an additional 2,425 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of Vanda Pharmaceuticals by 4.3% in the second quarter. Panagora Asset Management Inc. now owns 60,434 shares of the biopharmaceutical company’s stock worth $341,000 after buying an additional 2,509 shares in the last quarter. Verition Fund Management LLC raised its position in shares of Vanda Pharmaceuticals by 7.8% in the third quarter. Verition Fund Management LLC now owns 40,285 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 2,927 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Vanda Pharmaceuticals by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 596,210 shares of the biopharmaceutical company’s stock worth $2,796,000 after buying an additional 3,473 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of 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 worth $53,000 after buying an additional 4,374 shares in the last quarter. 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.