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

StockNews.com started coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

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

Vanda Pharmaceuticals Stock Performance

VNDA opened at $4.78 on Thursday. The company has a market cap of $278.71 million, a PE ratio of -17.07 and a beta of 0.76. The stock has a 50-day moving average of $4.86 and a 200-day moving average of $5.22. Vanda Pharmaceuticals has a 52-week low of $3.46 and a 52-week high of $6.75.

Insiders Place Their Bets

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of Vanda Pharmaceuticals 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 transaction, the director now directly owns 44,857 shares of the company’s stock, valued at $231,910.69. The trade was a 10.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in Vanda Pharmaceuticals during the 2nd quarter valued at $39,000. ORG Wealth Partners LLC bought a new position in shares of Vanda Pharmaceuticals during the 3rd quarter worth about $40,000. SG Americas Securities LLC bought a new position in shares of Vanda Pharmaceuticals during the 2nd quarter worth about $61,000. China Universal Asset Management Co. Ltd. raised its position in shares of 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 valued at $53,000 after buying an additional 4,374 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Vanda Pharmaceuticals in the second quarter valued at about $75,000. 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.