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

Stock analysts at StockNews.com assumed coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a report issued on Sunday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

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

Vanda Pharmaceuticals Trading Down 1.5 %

Shares of VNDA opened at $4.53 on Friday. The stock has a 50 day moving average of $4.87 and a 200 day moving average of $5.06. Vanda Pharmaceuticals has a 12 month low of $3.46 and a 12 month high of $6.75. The company has a market capitalization of $264.14 million, a price-to-earnings ratio of -16.18 and a beta of 0.77.

Insider Activity at Vanda Pharmaceuticals

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 sale, the director now owns 44,857 shares of the company’s stock, valued at $231,910.69. The trade was a 10.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vanda Pharmaceuticals

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in Vanda Pharmaceuticals by 1,184.6% in the 3rd 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 in the last quarter. FMR LLC increased its holdings in shares of Vanda Pharmaceuticals by 25.9% in the third quarter. FMR LLC now owns 149,739 shares of the biopharmaceutical company’s stock worth $702,000 after purchasing an additional 30,802 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Vanda Pharmaceuticals during the third quarter valued at $864,000. Dimensional Fund Advisors LP grew its position in 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 in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Vanda Pharmaceuticals in the 3rd quarter worth about $143,000. 88.14% of the stock is currently owned by 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.