Vanda Pharmaceuticals (NASDAQ:VNDA) Research Coverage Started at StockNews.com

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

Separately, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Vanda Pharmaceuticals in a research report on Tuesday, January 21st.

Vanda Pharmaceuticals Price Performance

NASDAQ VNDA opened at $4.58 on Tuesday. The business’s 50-day simple moving average is $4.72 and its 200-day simple moving average is $4.98. The firm has a market capitalization of $267.06 million, a P/E ratio of -16.36 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 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 transaction of $25,850.00. Following the transaction, the director now owns 44,857 shares of the company’s stock, valued at approximately $231,910.69. This trade represents a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.90% of the stock is currently owned by company insiders.

Institutional Trading of Vanda Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in Vanda Pharmaceuticals by 1,184.6% during the third quarter. BNP Paribas Financial Markets now owns 62,238 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 57,393 shares during the last quarter. FMR LLC grew its position in shares of Vanda Pharmaceuticals by 25.9% during the 3rd quarter. FMR LLC now owns 149,739 shares of the biopharmaceutical company’s stock valued at $702,000 after buying an additional 30,802 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Vanda Pharmaceuticals during the third quarter worth about $864,000. Dimensional Fund Advisors LP grew its holdings 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 valued at $11,379,000 after purchasing an additional 292,172 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Vanda Pharmaceuticals during the 3rd quarter worth approximately $143,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

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.