Vanda Pharmaceuticals (NASDAQ:VNDA) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research note released on Wednesday. The firm issued a hold rating on the biopharmaceutical company’s stock.

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

Vanda Pharmaceuticals Stock Up 2.3 %

Vanda Pharmaceuticals stock opened at $4.80 on Wednesday. The business’s 50-day simple moving average is $4.65 and its 200 day simple moving average is $4.92. The stock has a market cap of $279.89 million, a price-to-earnings ratio of -17.14 and a beta of 0.74. Vanda Pharmaceuticals has a 12-month low of $3.65 and a 12-month high of $6.75.

Insiders Place Their Bets

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.17, for a total transaction of $25,850.00. Following the sale, the director now owns 44,857 shares of the company’s stock, valued at $231,910.69. This trade 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 through this hyperlink. Company insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

A number of hedge funds have recently modified their holdings of VNDA. BNP Paribas Financial Markets raised its position in Vanda Pharmaceuticals by 1,184.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 62,238 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 57,393 shares during the last quarter. FMR LLC raised its position in Vanda Pharmaceuticals by 25.9% in the 3rd quarter. FMR LLC now owns 149,739 shares of the biopharmaceutical company’s stock valued at $702,000 after buying an additional 30,802 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Vanda Pharmaceuticals in the 3rd quarter valued at approximately $864,000. GSA Capital Partners LLP acquired a new stake in Vanda Pharmaceuticals in the 3rd quarter valued at approximately $143,000. Finally, Barclays PLC raised its position in Vanda Pharmaceuticals by 128.2% in 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 during the last quarter. Institutional investors and hedge funds 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.