In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Hold rating on Vanda (VNDA), with a price target of $26.
Duncan commented:
“. We reiterate our Neutral rating and reduce our PT to $26 from $30 for VNDA based on lowered 2019 revenue projections. On Wednesday, Vanda reported 4Q18 revenues of $32.4M for HETLIOZ and $20.6M for Fanapt, which were in line with our estimates. Vanda ended 4Q18 with cash of ~$257M, sufficient to fund operations through clinical milestones such as the first P3 study of tradi’ in atopic dermatitis. Although we project YoY growth for HETLIOZ in 2019, we do not view it as a source of underappreciated value. However if label expansion into SMS is achieved (pending FDA input on capital efficient next steps), this could prove to be a tractable, growth driving opportunity.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 0.8% and a 46.8% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vanda with a $37.20 average price target, representing a 102.0% upside. In a report issued on February 7, Oppenheimer also maintained a Hold rating on the stock with a $29 price target.
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Based on Vanda’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $10.36 million. In comparison, last year the company had a GAAP net loss of $1.84 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.
