Vanda (VNDA) Gets a Hold Rating from Oppenheimer

By Jason Carr

Oppenheimer analyst Esther Rajavelu maintained a Hold rating on Vanda (VNDAResearch Report) today and set a price target of $21. The company’s shares closed yesterday at $18.42.

Rajavelu said:

“VNDA reported 4Q results that were higher than our estimates and provided 2019 guidance which came in below our (and consensus) estimates. We update our model to reflect lower Hetlioz revenues from 2019 primarily driven by lower revenues from sighted patients. While we acknowledge management’s comments that scripts for sighted N24 patients continue to grow robustly, we are somewhat concerned by continued payor pushback on coverage for this patient pool despite VNDA’s efforts to increase access. We remain constructive on the potential for Hetlioz use in SMS patients (assuming approval) and maintain our Perform rating on a lower price target of $21 (vs $29). Separately, we believe investor sentiment could remain subdued until there is clarity on a Tradipitant approval pathway.”

According to, Rajavelu is a 1-star analyst with an average return of -2.3% and a 42.1% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Rocket Pharmaceuticals Inc, and Jazz Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vanda with a $38 average price target, representing a 106.3% upside. In a report issued on February 6, Cantor Fitzgerald also downgraded the stock to Hold with a $30 price target.

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The company has a one-year high of $33.44 and a one-year low of $13.88. Currently, Vanda has an average volume of 874.6K.

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.