Vanda Pharmaceuticals (NASDAQ:VNDA) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “strong-buy” rating on the biopharmaceutical company’s stock.

Vanda Pharmaceuticals Stock Up 1.1 %

Shares of VNDA opened at $6.39 on Thursday. The company’s fifty day moving average is $7.11 and its 200-day moving average is $8.82. Vanda Pharmaceuticals has a 12 month low of $6.05 and a 12 month high of $12.34. The firm has a market cap of $362.82 million, a price-to-earnings ratio of 53.25 and a beta of 0.72.

Insider Buying and Selling

In other news, CEO Mihael Hristos Polymeropoulos sold 22,426 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $6.23, for a total transaction of $139,713.98. Following the completion of the transaction, the chief executive officer now directly owns 1,499,440 shares of the company’s stock, valued at approximately $9,341,511.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Vanda Pharmaceuticals news, CEO Mihael Hristos Polymeropoulos sold 22,426 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $6.23, for a total value of $139,713.98. Following the completion of the sale, the chief executive officer now owns 1,499,440 shares in the company, valued at approximately $9,341,511.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Joakim Wijkstrom sold 7,720 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $6.23, for a total transaction of $48,095.60. Following the completion of the sale, the chief marketing officer now owns 121,653 shares of the company’s stock, valued at approximately $757,898.19. The disclosure for this sale can be found here. In the last three months, insiders sold 46,549 shares of company stock valued at $290,324. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Advisors Ltd. LLC acquired a new stake in shares of Vanda Pharmaceuticals in the fourth quarter valued at approximately $37,000. PNC Financial Services Group Inc. boosted its position in shares of Vanda Pharmaceuticals by 46.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the biopharmaceutical company’s stock valued at $68,000 after acquiring an additional 2,904 shares during the period. Quantbot Technologies LP bought a new stake in shares of Vanda Pharmaceuticals in the third quarter valued at about $90,000. Mutual of America Capital Management LLC lifted its position in Vanda Pharmaceuticals by 18.2% during the second quarter. Mutual of America Capital Management LLC now owns 9,488 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 1,460 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in Vanda Pharmaceuticals during the second quarter worth about $110,000. Institutional investors own 97.22% of the company’s stock.

Vanda Pharmaceuticals Company Profile

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Vanda Pharmaceuticals, Inc engages in the development and commercialization of therapies for high unmet medical needs. The firm intends to treat schizophrenia, jet lag disorder, atopic dermatitis, central nervous system disorders, and circadian rhythm sleep disorder. Its product portfolio includes HETLIOZ, Fanapt, Tradipitant, Trichostatin, and AQW051.