Vanda Pharmaceuticals (NASDAQ:VNDA) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA - Free Report) in a research report report published on Wednesday morning. The brokerage issued a hold rating on the biopharmaceutical company's stock.

Separately, HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Vanda Pharmaceuticals in a research note on Tuesday.

Vanda Pharmaceuticals Price Performance

VNDA traded up $0.16 during midday trading on Wednesday, hitting $4.69. 590,405 shares of the company's stock traded hands, compared to its average volume of 574,167. The company has a market cap of $273.47 million, a PE ratio of -16.75 and a beta of 0.74. Vanda Pharmaceuticals has a one year low of $3.61 and a one year high of $6.75. The stock's fifty day simple moving average is $4.66 and its 200-day simple moving average is $4.92.

Insider Activity

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of the stock in a transaction 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 sale, the director now directly owns 44,857 shares of the company's stock, valued at $231,910.69. This represents a 10.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Vanda Pharmaceuticals by 7.1% during 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 purchasing an additional 94,870 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Vanda Pharmaceuticals by 7.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 780,933 shares of the biopharmaceutical company's stock worth $3,663,000 after purchasing an additional 55,567 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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. Empowered Funds LLC grew its stake in shares of Vanda Pharmaceuticals by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 228,287 shares of the biopharmaceutical company's stock valued at $1,071,000 after purchasing an additional 11,524 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Vanda Pharmaceuticals in the 3rd quarter worth approximately $864,000. 88.14% of the stock is currently owned by 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.