Vanda Pharmaceuticals (NASDAQ:VNDA) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research report released on Saturday. The brokerage issued 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 research note on Monday, December 23rd.

Vanda Pharmaceuticals Stock Down 1.2 %

Shares of VNDA opened at $4.79 on Friday. Vanda Pharmaceuticals has a twelve month low of $3.46 and a twelve month high of $6.75. The stock has a market cap of $279.30 million, a PE ratio of -17.11 and a beta of 0.77. The business’s 50-day moving average price is $4.88 and its 200-day moving average price is $5.11.

Insider Buying and Selling at Vanda Pharmaceuticals

In other 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 transaction, the director now 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in Vanda Pharmaceuticals by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 160,722 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 22,249 shares in the last quarter. Franklin Resources Inc. raised its holdings 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 buying an additional 4,449 shares in the last quarter. Barclays PLC raised its holdings 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 buying an additional 86,677 shares in the last quarter. Geode Capital Management LLC lifted its position in Vanda Pharmaceuticals by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,425,827 shares of the biopharmaceutical company’s stock worth $6,689,000 after buying an additional 94,870 shares during the last quarter. Finally, ClearAlpha Technologies LP boosted its stake in Vanda Pharmaceuticals by 50.0% in the third quarter. ClearAlpha Technologies LP now owns 60,000 shares of the biopharmaceutical company’s stock worth $281,000 after buying an additional 20,000 shares in the last quarter. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

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.