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

Investment analysts at StockNews.com began coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research report issued on Sunday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright restated 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 Price Performance

NASDAQ VNDA opened at $4.60 on Friday. The business has a fifty day moving average price of $4.88 and a two-hundred day moving average price of $5.08. Vanda Pharmaceuticals has a fifty-two week low of $3.46 and a fifty-two week high of $6.75. The stock has a market capitalization of $268.22 million, a PE ratio of -16.43 and a beta of 0.77.

Insider Activity

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the 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 in the company, valued at approximately $231,910.69. This represents a 10.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new position in Vanda Pharmaceuticals during the 2nd quarter worth $39,000. ORG Wealth Partners LLC bought a new position in Vanda Pharmaceuticals during the 3rd quarter worth $40,000. China Universal Asset Management Co. Ltd. raised its position in 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 purchasing an additional 4,374 shares during the last quarter. XTX Topco Ltd bought a new position in Vanda Pharmaceuticals during the 2nd quarter worth $75,000. Finally, Intech Investment Management LLC bought a new position in Vanda Pharmaceuticals during the 3rd quarter worth $84,000. 88.14% of the stock is owned by 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.