Following Vanda Pharmaceuticals, Inc.’s (NASDAQ: VNDA) first quarter 2017 results, Aegis Capital has reiterated its ‘Buy’ rating and price target of $24 on shares of the company’s stock. The company reported net product sales of $37.4 million in the first quarter of 2017 and reaffirmed its net product sales guidance for 2017 of $165 million to $175 million. The Aegis analyst noted that the company has expanded its sales team for Fanapt®, which should drive growth in the third and fourth quarter of this year. Data from three trials that the analyst cited as catalysts for the year is also expected for the third and fourth quarters.
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About Vanda Pharmaceuticals, Inc.
Vanda Pharmaceuticals, Inc. 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.
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