Vanda Pharmaceuticals (NASDAQ:VNDA) Now Covered by StockNews.com

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

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

Vanda Pharmaceuticals Price Performance

VNDA stock opened at $4.85 on Friday. The company’s 50-day moving average is $4.88 and its 200-day moving average is $5.14. The stock has a market capitalization of $282.79 million, a PE ratio of -17.32 and a beta of 0.77. Vanda Pharmaceuticals has a 1 year low of $3.46 and a 1 year 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 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of Vanda Pharmaceuticals during the 2nd quarter worth approximately $39,000. ORG Wealth Partners LLC bought a new stake in Vanda Pharmaceuticals during the third quarter worth $40,000. China Universal Asset Management Co. Ltd. boosted its position in Vanda Pharmaceuticals by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 4,374 shares during the last quarter. XTX Topco Ltd bought a new position in Vanda Pharmaceuticals in the 2nd quarter valued at $75,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Vanda Pharmaceuticals during the 3rd quarter valued at $84,000. 88.14% of the stock is currently owned by hedge funds and other 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.