Vanda Pharmaceuticals (NASDAQ:VNDA) Now Covered by StockNews.com

Equities researchers at StockNews.com began coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) in a note issued to investors on Wednesday. The brokerage set a "hold" rating on the biopharmaceutical company's stock.

Separately, HC Wainwright began 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 Up 1.5 %

Shares of NASDAQ:VNDA traded up $0.07 during trading on Wednesday, hitting $4.67. 1,777,006 shares of the company traded hands, compared to its average volume of 1,254,509. The stock has a market capitalization of $272.30 million, a price-to-earnings ratio of -16.68 and a beta of 0.76. The business's fifty day moving average is $4.84 and its 200-day moving average is $5.24. Vanda Pharmaceuticals has a one year low of $3.46 and a one year high of $6.75.

Insider Transactions at Vanda Pharmaceuticals

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The stock was 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 in the company, valued at $231,910.69. This represents 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 this hyperlink. Insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in Vanda Pharmaceuticals by 8.8% in the third quarter. Franklin Resources Inc. now owns 55,226 shares of the biopharmaceutical company's stock worth $266,000 after purchasing an additional 4,449 shares during the period. Barclays PLC lifted its position in shares of Vanda Pharmaceuticals by 128.2% during the 3rd quarter. Barclays PLC now owns 154,297 shares of the biopharmaceutical company's stock valued at $722,000 after acquiring an additional 86,677 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Vanda Pharmaceuticals by 7.1% during 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 acquiring an additional 94,870 shares during the last quarter. ClearAlpha Technologies LP lifted its position in shares of Vanda Pharmaceuticals by 50.0% during the 3rd quarter. ClearAlpha Technologies LP now owns 60,000 shares of the biopharmaceutical company's stock valued at $281,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of Vanda Pharmaceuticals by 7.8% during the 3rd quarter. Verition Fund Management LLC now owns 40,285 shares of the biopharmaceutical company's stock valued at $189,000 after acquiring an additional 2,927 shares during the last quarter. 88.14% of the stock is currently owned by institutional investors and hedge funds.

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.