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

StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a report issued on Tuesday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

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

Vanda Pharmaceuticals Stock Performance

Shares of Vanda Pharmaceuticals stock opened at $4.91 on Tuesday. Vanda Pharmaceuticals has a fifty-two week low of $3.46 and a fifty-two week high of $6.75. The firm has a market capitalization of $286.30 million, a price-to-earnings ratio of -17.54 and a beta of 0.76. The stock has a 50 day moving average of $4.83 and a 200 day moving average of $5.26.

Insider Buying and Selling at Vanda Pharmaceuticals

In related news, Director Stephen Ray Mitchell sold 5,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was 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 represents a 10.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.90% of the stock is owned by corporate insiders.

Institutional Trading of Vanda Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of VNDA. Franklin Resources Inc. boosted its stake in shares of Vanda Pharmaceuticals by 8.8% in the third quarter. Franklin Resources Inc. now owns 55,226 shares of the biopharmaceutical company’s stock valued at $266,000 after purchasing an additional 4,449 shares during the period. Barclays PLC boosted its position in Vanda Pharmaceuticals by 128.2% in the 3rd quarter. Barclays PLC now owns 154,297 shares of the biopharmaceutical company’s stock valued at $722,000 after buying an additional 86,677 shares during the period. Geode Capital Management LLC raised its position in Vanda Pharmaceuticals by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,425,827 shares of the biopharmaceutical company’s stock valued at $6,689,000 after purchasing an additional 94,870 shares in the last quarter. ClearAlpha Technologies LP boosted its stake in shares of Vanda Pharmaceuticals by 50.0% in the 3rd quarter. ClearAlpha Technologies LP now owns 60,000 shares of the biopharmaceutical company’s stock valued at $281,000 after buying an additional 20,000 shares during the period. Finally, Verition Fund Management LLC grew its position in shares of Vanda Pharmaceuticals by 7.8% during the third quarter. Verition Fund Management LLC now owns 40,285 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 2,927 shares in the last quarter. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

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.