Franklin Resources Inc. Acquires 4,449 Shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)

Franklin Resources Inc. raised its holdings in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) by 8.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,226 shares of the biopharmaceutical company’s stock after buying an additional 4,449 shares during the period. Franklin Resources Inc. owned about 0.09% of Vanda Pharmaceuticals worth $266,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in VNDA. Nantahala Capital Management LLC raised its stake in Vanda Pharmaceuticals by 57.3% in 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 acquiring an additional 580,265 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 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 valued at $11,379,000 after purchasing an additional 292,172 shares during the period. Monaco Asset Management SAM bought a new position in shares of Vanda Pharmaceuticals in the second quarter valued at about $1,090,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vanda Pharmaceuticals during the 3rd quarter worth about $864,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Vanda Pharmaceuticals by 7.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,425,827 shares of the biopharmaceutical company’s stock worth $6,689,000 after buying an additional 94,870 shares during the period. 88.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com started coverage on shares of Vanda Pharmaceuticals in a report on Friday, December 27th. They issued a “hold” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Vanda Pharmaceuticals in a research note on Monday, December 23rd.

Vanda Pharmaceuticals Stock Performance

NASDAQ:VNDA opened at $4.79 on Thursday. The firm has a market cap of $279.30 million, a price-to-earnings ratio of -17.11 and a beta of 0.76. Vanda Pharmaceuticals Inc. has a 52 week low of $3.46 and a 52 week high of $6.75. The firm’s 50-day simple moving average is $4.86 and its 200 day simple moving average is $5.15.

Insider Transactions at Vanda Pharmaceuticals

In related news, Director Stephen Ray Mitchell sold 5,000 shares of the business’s 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 completion of the transaction, the director now owns 44,857 shares of the company’s stock, valued at $231,910.69. The trade was a 10.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.90% of the company’s stock.

Vanda Pharmaceuticals 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.