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Analyst Explains Why They Upgraded Their Rating on Vanda (VNDA)


Vanda (VNDA) received a Buy rating and a $43 price target from Cantor Fitzgerald analyst Charles Duncan yesterday. The company’s shares closed yesterday at $31.47, close to its 52-week high of $33.44.

Duncan commented:

“. We are upgrading and increasing our 12-month PT to $43 from $26. Vanda announced that tradipitant met the primary endpoint in its P2 study in patients with idiopathic and diabetic gastroparesis. Based on our recent KOL due diligence, we are impressed with the effect size magnitude, which points to a clinically meaningful increase in nausea-free days, indicating a clear improvement in patient QoL. Importantly, subgroup analysis of pts experiencing both nausea and vomiting at baseline (n=101) shows that tradi’ met the primary endpoint of change in nausea score (p=0.00002) as well as the number of nausea-free days (p=0.0003), a “tough putt” result.”

According to TipRanks.com, Duncan is a 2-star analyst with an average return of 0.0% and a 44.9% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Vanda has an analyst consensus of Strong Buy, with a price target consensus of $32.80, which is a 4.2% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock.

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The company has a one-year high of $33.44 and a one-year low of $13.30. Currently, Vanda has an average volume of 1.02M.

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Vanda Pharmaceuticals, Inc. engages in the development and commercialization of therapies for high unmet medical needs. It 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.