Cantor Fitzgerald analyst Charles Duncan downgraded Vanda (VNDA) to Hold today and set a price target of $30. The company’s shares closed yesterday at $25.06.
Duncan wrote:
“. We are downgrading and lowering our 12-mo. PT to $30 from $38. Our new view is the result of yesterday’s disclosure of FDA interactions that appear “challenged.” We think this news reduces our visibility on development timelines for tradipitant in gastroparesis, perhaps even pruritus, and may also affect Hetlioz label expansion efforts. As we read it, the challenged FDA interactions are a result of management disagreement with the agency over the scientific merits of conducting certain non-clinical testing.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 1.0% and a 47.1% 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 Strong Buy analyst consensus rating for Vanda with a $42.50 average price target.
See today’s analyst top recommended stocks >>
Vanda’s market cap is currently $1.31B and has a P/E ratio of 104.37. The company has a Price to Book ratio of 5.02.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
