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

StockNews.com began coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note issued to investors on Saturday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

A number of other analysts have also issued reports on the company. Cantor Fitzgerald boosted their target price on Vanda Pharmaceuticals from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. HC Wainwright started coverage on Vanda Pharmaceuticals in a report on Thursday, October 31st. They issued a “buy” rating and a $18.00 price objective on the stock.

Vanda Pharmaceuticals Stock Performance

Vanda Pharmaceuticals stock opened at $5.19 on Friday. The company’s 50 day simple moving average is $4.79 and its 200-day simple moving average is $5.25. Vanda Pharmaceuticals has a 1 year low of $3.30 and a 1 year high of $6.75. The company has a market capitalization of $302.53 million, a price-to-earnings ratio of -18.54 and a beta of 0.77.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC grew its stake in shares of Vanda Pharmaceuticals by 57.3% in the second quarter. Nantahala Capital Management LLC now owns 1,593,516 shares of the biopharmaceutical company’s stock worth $9,003,000 after acquiring an additional 580,265 shares in the last quarter. Profit Investment Management LLC grew its stake in Vanda Pharmaceuticals by 159.3% during the 2nd quarter. Profit Investment Management LLC now owns 571,324 shares of the biopharmaceutical company’s stock worth $3,228,000 after purchasing an additional 351,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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 worth $11,379,000 after purchasing an additional 292,172 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Vanda Pharmaceuticals during the 1st quarter worth about $1,158,000. Finally, Monaco Asset Management SAM acquired a new stake in Vanda Pharmaceuticals in the 2nd quarter valued at about $1,090,000. 88.14% of the stock is currently owned by institutional investors and hedge funds.

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.