Cantor Fitzgerald analyst Charles Duncan reiterated a Hold rating on Vanda (VNDA) today and set a price target of $26. The company’s shares closed yesterday at $16, close to its 52-week low of $14.25.
Duncan commented:
“. We reiterate our Neutral rating and PT of $26 for VNDA. Vanda reported 1Q19 revenues of $29M for HETLIOZ compared with our estimate of $33.6M and FactSet consensus of $32.1M. HETLIOZ net product sales decreased by 11% sequentially and units sold to patients decreased by 2% QoQ. Revenues for Fanapt were $18.6M, which were below our estimate of $20M and consensus of $19.4M. Fanapt net product sales decreased by 9% QoQ, and prescriptions declined by 5% QoQ. Vanda ended 1Q19 with cash of ~ $267.8M, sufficient to fund operations through clinical milestones such as the first P3 study of tradi’ in atopic dermatitis.”
According to TipRanks.com, Duncan is a 4-star analyst with an average return of 6.8% and a 49.8% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vanda with a $35 average price target, representing an 118.8% upside. In a report issued on April 23, Oppenheimer also maintained a Hold rating on the stock with a $21 price target.
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The company has a one-year high of $33.44 and a one-year low of $14.25. Currently, Vanda has an average volume of 872.9K.
Based on the recent corporate insider activity of 20 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.
