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

StockNews.com began coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) in a 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 issued a $18.00 target price on shares of Vanda Pharmaceuticals in a report on Monday, December 23rd.

Vanda Pharmaceuticals Price Performance

Shares of NASDAQ:VNDA traded up $0.03 during trading hours on Friday, hitting $4.85. The company's stock had a trading volume of 457,047 shares, compared to its average volume of 444,523. The firm's fifty day moving average price is $4.88 and its 200 day moving average price is $5.14. Vanda Pharmaceuticals has a 52 week low of $3.46 and a 52 week high of $6.75. The company has a market capitalization of $282.79 million, a price-to-earnings ratio of -17.32 and a beta of 0.77.

Insider Activity

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were 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 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 8.90% of the company's stock.

Institutional Trading of Vanda Pharmaceuticals

Several large investors have recently bought and sold shares of VNDA. JPMorgan Chase & Co. lifted its stake in shares of Vanda Pharmaceuticals by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 160,722 shares of the biopharmaceutical company's stock worth $754,000 after buying an additional 22,249 shares during the period. Franklin Resources Inc. raised its stake in Vanda Pharmaceuticals by 8.8% in the 3rd quarter. Franklin Resources Inc. now owns 55,226 shares of the biopharmaceutical company's stock worth $266,000 after acquiring an additional 4,449 shares during the last quarter. Barclays PLC raised its stake in Vanda Pharmaceuticals by 128.2% in the 3rd quarter. Barclays PLC now owns 154,297 shares of the biopharmaceutical company's stock worth $722,000 after acquiring an additional 86,677 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 worth $6,689,000 after acquiring an additional 94,870 shares during the period. Finally, ClearAlpha Technologies LP grew its stake in 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 purchasing an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 88.14% of the company's stock.

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.