Noting Vanda Pharmaceuticals’ (NASDAQ: VNDA) recent financials and 2017 guidance, Aegis Capital Corp. has reiterated its ‘Buy’ rating and $24 price target on the company’s stock. Vanda reported net product sales for its melatonin receptor agonist, HETLIOZ®, at $71.7 million for full-year 2016, an increase of 62% compared to $44.3 million for the full year 2015. Fanapt®, the company’s atypical antipsychotic, brought in $74.3 million for the full year 2016, a 13% increase compared to $65.6 million in 2015. For the fourth quarter of 2016, Vanda reported non-GAAP net income of $3.6 million, compared to a non-GAAP net loss of $10.0 million for the fourth quarter of 2015. Non-GAAP net income was $1.5 million for the full year 2016, compared to a non-GAAP net loss of $18.9 million for the full year 2015. The company also reported 2017 objectives, including combined net product sales from both HETLIOZ® and Fanapt® of $165 million to $175 million.
To learn more, visit www.vandapharma.com
About Vanda Pharmaceuticals Inc.
Vanda Pharmaceuticals is a global biopharmaceutical company focused on the development and commercialization of innovative therapies to address high unmet medical needs and improve the lives of patients. The company is focused on the treatment of central nervous system disorders with a product portfolio made up of HETLIOZ®, Fanapt®, Tradipitant, and Trichostatin A.
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