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

StockNews.com started coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note issued to investors on Tuesday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Vanda Pharmaceuticals in a research report on Tuesday, January 21st.

Vanda Pharmaceuticals Stock Performance

Shares of NASDAQ VNDA opened at $4.44 on Tuesday. Vanda Pharmaceuticals has a 52-week low of $3.46 and a 52-week high of $6.75. The firm has a market capitalization of $258.90 million, a price-to-earnings ratio of -15.86 and a beta of 0.77. The stock has a 50 day moving average price of $4.72 and a 200 day moving average price of $4.98.

Insider Activity

In other 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 transaction, the director now directly owns 44,857 shares of the company’s stock, valued at approximately $231,910.69. The trade was a 10.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in VNDA. Dimensional Fund Advisors LP boosted its holdings in shares of Vanda Pharmaceuticals by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company’s stock valued at $11,379,000 after buying an additional 292,172 shares in the last quarter. XTX Topco Ltd purchased a new stake in Vanda Pharmaceuticals during the second quarter valued at approximately $75,000. AQR Capital Management LLC boosted its stake in Vanda Pharmaceuticals by 181.7% in the second quarter. AQR Capital Management LLC now owns 75,889 shares of the biopharmaceutical company’s stock valued at $429,000 after acquiring an additional 48,945 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Vanda Pharmaceuticals by 2.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 287,677 shares of the biopharmaceutical company’s stock valued at $1,625,000 after acquiring an additional 5,994 shares in the last quarter. Finally, Nantahala Capital Management LLC grew its holdings in Vanda Pharmaceuticals by 57.3% in the second quarter. Nantahala Capital Management LLC now owns 1,593,516 shares of the biopharmaceutical company’s stock worth $9,003,000 after purchasing an additional 580,265 shares during the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.

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.