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

Equities research analysts at StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research report issued on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

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

Vanda Pharmaceuticals Stock Performance

Shares of NASDAQ:VNDA opened at $4.78 on Thursday. The company has a market cap of $278.71 million, a P/E ratio of -17.07 and a beta of 0.76. The business’s 50-day simple moving average is $4.86 and its 200 day simple moving average is $5.22. Vanda Pharmaceuticals has a one year low of $3.46 and a one year high of $6.75.

Insiders Place Their Bets

In related news, Director Stephen Ray Mitchell sold 5,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.17, for a total value of $25,850.00. Following the completion of the transaction, the director now owns 44,857 shares in the company, valued at $231,910.69. This represents a 10.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 8.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new stake in shares of Vanda Pharmaceuticals in the 2nd quarter worth approximately $39,000. ORG Wealth Partners LLC acquired a new stake in Vanda Pharmaceuticals during the 3rd quarter worth about $40,000. China Universal Asset Management Co. Ltd. grew its holdings 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 in the last quarter. SG Americas Securities LLC purchased a new position in Vanda Pharmaceuticals during the second quarter valued at approximately $61,000. Finally, XTX Topco Ltd purchased a new stake in shares of Vanda Pharmaceuticals during the 2nd quarter worth about $75,000. 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.