Vanda Pharmaceuticals (NASDAQ:VNDA) Research Coverage Started 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.

VNDA has been the subject of a number of other research reports. Cantor Fitzgerald boosted their price target on Vanda Pharmaceuticals from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. HC Wainwright assumed coverage on Vanda Pharmaceuticals in a report on Thursday, October 31st. They issued a “buy” rating and a $18.00 target price for the company.

Vanda Pharmaceuticals Stock Up 4.2 %

VNDA stock opened at $5.19 on Monday. The firm has a 50 day moving average of $4.81 and a two-hundred day moving average of $5.26. Vanda Pharmaceuticals has a 12 month low of $3.46 and a 12 month high of $6.75. The company has a market capitalization of $302.63 million, a price-to-earnings ratio of -18.54 and a beta of 0.77.

Insiders Place Their Bets

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.17, for a total transaction of $25,850.00. Following the completion of the transaction, the director now directly owns 44,857 shares in the company, valued at $231,910.69. The trade was a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of VNDA. Meeder Asset Management Inc. bought a new stake in Vanda Pharmaceuticals in the 2nd quarter valued at $39,000. ORG Wealth Partners LLC acquired a new stake in Vanda Pharmaceuticals during the third quarter worth about $40,000. China Universal Asset Management Co. Ltd. grew its position in Vanda Pharmaceuticals by 64.0% during 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. SG Americas Securities LLC bought a new position in Vanda Pharmaceuticals during the second quarter valued at about $61,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Vanda Pharmaceuticals by 18.1% in 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 in the last quarter. 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.