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

StockNews.com started 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.

A number of other equities analysts have also commented on VNDA. Cantor Fitzgerald lifted their price target on shares of Vanda Pharmaceuticals from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. 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 Price Performance

Shares of NASDAQ VNDA opened at $4.98 on Friday. The company has a 50 day simple moving average of $4.80 and a 200 day simple moving average of $5.27. Vanda Pharmaceuticals has a 1 year low of $3.44 and a 1 year high of $6.75. The firm has a market cap of $290.38 million, a PE ratio of -17.79 and a beta of 0.77.

Insiders Place Their Bets

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.17, for a total transaction of $25,850.00. Following the sale, the director now owns 44,857 shares of the company’s stock, valued at approximately $231,910.69. This represents a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC grew its stake in Vanda Pharmaceuticals by 4.7% during the first quarter. Acadian Asset Management LLC now owns 2,370,335 shares of the biopharmaceutical company’s stock worth $9,740,000 after purchasing an additional 107,203 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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 worth $11,379,000 after buying an additional 292,172 shares in the last quarter. Nantahala Capital Management LLC grew its position 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 worth $9,003,000 after buying an additional 580,265 shares during the period. Geode Capital Management LLC increased its stake in shares of Vanda Pharmaceuticals by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,425,827 shares of the biopharmaceutical company’s stock valued at $6,689,000 after acquiring an additional 94,870 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Vanda Pharmaceuticals by 7.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 780,933 shares of the biopharmaceutical company’s stock valued at $3,663,000 after acquiring an additional 55,567 shares during the period. 88.14% of the stock is owned by institutional investors.

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.