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

StockNews.com began coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a report released on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Vanda Pharmaceuticals in a research note on Tuesday.

Vanda Pharmaceuticals Stock Up 3.9 %

Shares of Vanda Pharmaceuticals stock opened at $4.48 on Wednesday. Vanda Pharmaceuticals has a twelve month low of $3.46 and a twelve month high of $6.75. The company’s 50 day moving average is $4.67 and its 200 day moving average is $4.93. The company has a market cap of $261.23 million, a price-to-earnings ratio of -16.00 and a beta of 0.74.

Insider Buying and Selling

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 44,857 shares in the company, valued at $231,910.69. This represents a 10.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.90% of the stock is currently owned by insiders.

Institutional Trading of Vanda Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Wealth Partners LLC purchased a new position in shares of Vanda Pharmaceuticals during the 3rd quarter valued at about $40,000. China Universal Asset Management Co. Ltd. lifted its holdings in 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 purchasing an additional 4,374 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Vanda Pharmaceuticals in the third quarter worth approximately $84,000. SG Americas Securities LLC increased its stake in shares of Vanda Pharmaceuticals by 88.5% in the third quarter. SG Americas Securities LLC now owns 20,402 shares of the biopharmaceutical company’s stock worth $96,000 after purchasing an additional 9,580 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Vanda Pharmaceuticals in the third quarter worth $143,000. Hedge funds and other 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.