Cantor Fitzgerald analyst Charles Duncan reiterated a Hold rating on Vanda (VNDA) yesterday and set a price target of $26. The company’s shares closed yesterday at $20.45.
Duncan wrote:
“We are 12-month price target of $26. Vanda reported 3Q18 revenues of $49.1M, in line with our expectations, and cash of $240.6M. Our model projects current cash to fund operations through clinical milestones such as the P2 readout of tradipitant in gastroparesis and additional pipeline progress including the once a month formulation of Fanapt. 3Q call centered on Hetlioz growth and tradi’ in gastroparesis. Initiative (HPI) was initiated ~1 year ago and new ‘scripts derived from this initiative have driven a significant portion of the 34% YoY Hetlioz revenue growth.”
According to TipRanks.com, Duncan is a 2-star analyst with an average return of 0.5% and a 44.6% 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 $28.67.
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Vanda’s market cap is currently $1.07B and has a P/E ratio of 2045. The company has a Price to Book ratio of 4.26.
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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.
