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

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

Separately, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Vanda Pharmaceuticals in a research report on Tuesday.

Vanda Pharmaceuticals Stock Up 2.3 %

NASDAQ:VNDA opened at $4.80 on Wednesday. The firm has a market capitalization of $279.89 million, a price-to-earnings ratio of -17.14 and a beta of 0.74. Vanda Pharmaceuticals has a twelve month low of $3.65 and a twelve month high of $6.75. The stock’s 50 day moving average price is $4.65 and its two-hundred day moving average price is $4.92.

Insider Transactions at Vanda Pharmaceuticals

In related news, Director Stephen Ray Mitchell sold 5,000 shares of the business’s stock in a transaction 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. The trade was a 10.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Vanda Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new stake in Vanda Pharmaceuticals in the 3rd quarter valued at $40,000. China Universal Asset Management Co. Ltd. boosted its stake 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 purchasing an additional 4,374 shares during the period. Intech Investment Management LLC bought a new stake in Vanda Pharmaceuticals in the 3rd quarter valued at $84,000. SG Americas Securities LLC boosted its stake in Vanda Pharmaceuticals by 88.5% in the 3rd quarter. SG Americas Securities LLC now owns 20,402 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 9,580 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Vanda Pharmaceuticals in the 3rd quarter valued at $143,000. 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.