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

StockNews.com started coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note released on Saturday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Vanda Pharmaceuticals in a research note on Monday, December 23rd.

Vanda Pharmaceuticals Trading Down 1.2 %

VNDA opened at $4.79 on Friday. Vanda Pharmaceuticals has a 12 month low of $3.46 and a 12 month high of $6.75. The business’s 50-day moving average price is $4.88 and its 200-day moving average price is $5.11. The company has a market cap of $279.30 million, a P/E ratio of -17.11 and a beta of 0.77.

Insider Buying and Selling at Vanda Pharmaceuticals

In other 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 sale, the director now directly owns 44,857 shares in the company, valued at approximately $231,910.69. This trade represents a 10.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Vanda Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in VNDA. Dimensional Fund Advisors LP increased its position in Vanda Pharmaceuticals by 17.0% during the 2nd 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. Nantahala Capital Management LLC boosted its stake in shares of Vanda Pharmaceuticals by 57.3% during 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 purchasing an additional 580,265 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Vanda Pharmaceuticals by 7.1% during the third quarter. Geode Capital Management LLC now owns 1,425,827 shares of the biopharmaceutical company’s stock valued at $6,689,000 after buying an additional 94,870 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Vanda Pharmaceuticals by 7.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 780,933 shares of the biopharmaceutical company’s stock worth $3,663,000 after buying an additional 55,567 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 during the period. 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.