Jefferies Upgrades Vanda Pharmaceuticals (VNDA) to Buy; Giving Credit for Tasimelteon
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Price: $7.12 --0%
Rating Summary:
5 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 13
Rating Summary:
5 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 13
Trade VNDA Now!
Jefferies upgraded Vanda Pharmaceuticals (NASDAQ: VNDA) from Hold to Buy with a price target of $6.00 (from $3.50).
The firm comments, "We're finally giving credit for tasimelteon given 1) surprisingly good recent Non24 Ph.3 data w/clinical sleep efficacy which likely improves FDA receptivity, 2) orphan pricing not confounded by ‘depression’ efforts, and 3) approaching regulatory catalysts. We still think it’s far from a slam dunk, but even conservatively discounted Tasi contribution is likely big upside from current negative EV level. "
The firm cut FY13 EPS from ($0.01) to ($0.75) and FY14 from $0.11 to ($1.11).
For an analyst ratings summary and ratings history on Vanda Pharmaceuticals click here. For more ratings news on Vanda Pharmaceuticals click here.
Shares of Vanda Pharmaceuticals closed at $3.95 yesterday, with a 52 week range of $2.92-$5.23.
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The firm comments, "We're finally giving credit for tasimelteon given 1) surprisingly good recent Non24 Ph.3 data w/clinical sleep efficacy which likely improves FDA receptivity, 2) orphan pricing not confounded by ‘depression’ efforts, and 3) approaching regulatory catalysts. We still think it’s far from a slam dunk, but even conservatively discounted Tasi contribution is likely big upside from current negative EV level. "
The firm cut FY13 EPS from ($0.01) to ($0.75) and FY14 from $0.11 to ($1.11).
For an analyst ratings summary and ratings history on Vanda Pharmaceuticals click here. For more ratings news on Vanda Pharmaceuticals click here.
Shares of Vanda Pharmaceuticals closed at $3.95 yesterday, with a 52 week range of $2.92-$5.23.
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