Oppenheimer Keeps a Buy Rating on Vanda

Oppenheimer analyst Christopher Liu maintained a Buy rating on Vanda (NASDAQ: VNDA) today and set a price target of $27. The company’s shares opened today at $15.65.

Liu said:

“VNDA reported 1Q18 financial results on May 2. We continue to expect Hetlioz sales acceleration due to the Hetlioz for Psychiatrists Initiative (HPI), especially as reimbursement hurdles are dealt with over time. We see two relatively de-risked clinical catalysts coming up by year-end with Phase 2 tradipitant for gastroparesis and Phase 2/3 Hetlioz for Smith-Magenis results reading out in 4Q18. We continue to like the pipeline optionality and the stock set-up in the next 12-18 months. We remain convinced of Hetlioz growth and the company’s ability to penetrate into the Sighted Non-24 market. We also think that some investor doubt in Hetlioz growth has been eased with consecutive quarterly sales growth for the product.”

Vanda has an analyst consensus of Moderate Buy, with a price target consensus of $20.50.

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Based on Vanda’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $44.28 million and GAAP net loss of $1.84 million. In comparison, last year the company earned revenue of $37.42 million and had a GAAP net loss of $7.65 million.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock.

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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.