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

Equities researchers at StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note issued to investors on Saturday. The firm 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 Stock Performance

Vanda Pharmaceuticals stock opened at $4.85 on Friday. The stock has a 50-day simple moving average of $4.88 and a 200 day simple moving average of $5.13. The stock has a market capitalization of $282.79 million, a P/E ratio of -17.32 and a beta of 0.77. Vanda Pharmaceuticals has a 52 week low of $3.46 and a 52 week high of $6.75.

Insider Activity at Vanda Pharmaceuticals

In related news, Director Stephen Ray Mitchell sold 5,000 shares of Vanda Pharmaceuticals stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.17, for a total transaction of $25,850.00. Following the completion of the sale, the director now directly owns 44,857 shares of the company’s stock, valued at approximately $231,910.69. This trade represents a 10.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VNDA. Verition Fund Management LLC raised its position in shares of Vanda Pharmaceuticals by 7.8% in the third quarter. Verition Fund Management LLC now owns 40,285 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 2,927 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Vanda Pharmaceuticals by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 596,210 shares of the biopharmaceutical company’s stock valued at $2,796,000 after acquiring an additional 3,473 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Vanda Pharmaceuticals by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 4,374 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Vanda Pharmaceuticals by 8.8% during the 3rd quarter. Franklin Resources Inc. now owns 55,226 shares of the biopharmaceutical company’s stock valued at $266,000 after acquiring an additional 4,449 shares during the period. Finally, Susquehanna Fundamental Investments LLC grew its holdings in shares of Vanda Pharmaceuticals by 2.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 287,677 shares of the biopharmaceutical company’s stock worth $1,625,000 after purchasing an additional 5,994 shares in the last quarter. 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.