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

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

Several other analysts have also issued reports on the company. Cantor Fitzgerald raised their price objective 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 began coverage on Vanda Pharmaceuticals in a research report on Thursday, October 31st. They set a “buy” rating and a $18.00 price objective on the stock.

Vanda Pharmaceuticals Price Performance

Shares of VNDA opened at $5.09 on Monday. Vanda Pharmaceuticals has a one year low of $3.46 and a one year high of $6.75. The company has a market cap of $296.80 million, a PE ratio of -18.18 and a beta of 0.77. The firm has a 50-day moving average of $4.80 and a 200-day moving average of $5.26.

Insider Activity

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 44,857 shares in the company, valued at approximately $231,910.69. The trade was a 10.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of Vanda Pharmaceuticals by 17.0% during the second 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 during the last quarter. Nantahala Capital Management LLC boosted its stake in shares of Vanda Pharmaceuticals by 57.3% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,593,516 shares of the biopharmaceutical company’s stock valued at $9,003,000 after purchasing an additional 580,265 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Vanda Pharmaceuticals by 7.1% in the third quarter. Geode Capital Management LLC now owns 1,425,827 shares of the biopharmaceutical company’s stock valued at $6,689,000 after buying an additional 94,870 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted 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 purchasing an additional 55,567 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Vanda Pharmaceuticals by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 596,210 shares of the biopharmaceutical company’s stock worth $2,796,000 after purchasing an additional 3,473 shares during the period. 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.