Vanda Pharmaceuticals (NASDAQ:VNDA) Now Covered by Analysts at StockNews.com

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

Vanda Pharmaceuticals Trading Up 2.4 %

NASDAQ:VNDA opened at $6.52 on Thursday. The firm has a market capitalization of $370.21 million, a PE ratio of 54.34 and a beta of 0.72. The stock has a 50 day moving average of $7.08 and a 200-day moving average of $8.76. Vanda Pharmaceuticals has a 52 week low of $6.05 and a 52 week high of $12.34.

Insider Buying and Selling

In related news, CEO Mihael Hristos Polymeropoulos sold 22,426 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $6.23, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CMO Joakim Wijkstrom sold 7,720 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $6.23, for a total value of $48,095.60. Following the completion of the transaction, the chief marketing officer now directly owns 121,653 shares of the company’s stock, valued at approximately $757,898.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mihael Hristos Polymeropoulos sold 22,426 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $6.23, for a total value 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 $9,341,511.20. The disclosure for this sale can be found here. Insiders sold 46,549 shares of company stock valued at $290,324 in the last three months. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vanda Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC bought a new position in Vanda Pharmaceuticals during the 4th quarter valued at $37,000. PNC Financial Services Group Inc. boosted its stake in Vanda Pharmaceuticals by 46.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 2,904 shares in the last quarter. Quantbot Technologies LP bought a new position in Vanda Pharmaceuticals during the 3rd quarter valued at $90,000. Mutual of America Capital Management LLC boosted its stake in Vanda Pharmaceuticals by 18.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 9,488 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 1,460 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in Vanda Pharmaceuticals during the 2nd quarter valued at $110,000. 97.22% of the stock is owned by institutional investors.

About Vanda Pharmaceuticals

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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.