Vanda (VNDA) Received its Third Buy in a Row


After JMP Securities and Citigroup gave Vanda (NASDAQ: VNDA) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Charles Duncan reiterated a Buy rating on Vanda today and set a price target of $43. The company’s shares closed on Monday at $26.13.

Duncan noted:

“. We reiterate our Overweight rating and 12-month price target of $43/share on Vanda. Over the last few weeks, we conducted deep-dive due diligence on gastroparesis, including hosting a KOL call. Our public call was with a clinician to discuss the P2 results of Vanda’s neurokinin-1 (NK1) receptor antagonist tradipitant and the design of a future P3 that we anticipate will be well-informed by the P2 data, and a previous APRON gastro’ study of aprepitant (NK-1 antagonist approved for chemotherapy induced nausea and vomiting).”

According to TipRanks.com, Duncan has 0 stars on 0-5 star ranking scale with an average return of -4.2% and a 39.3% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Vanda is a Strong Buy with an average price target of $42.50.

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Based on Vanda’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $7.17 million. In comparison, last year the company had a GAAP net loss of $1.84 million.

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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.

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