Cantor Fitzgerald analyst Charles Duncan upgraded Vanda Pharmaceuticals to Overweight from Neutral and raised his price target for the shares to $43 from $26. The analyst is “impressed” with the effect size magnitude for tradipitant in the Phase 2 study in patients with idiopathic and diabetic gastroparesis. This points to a clinically meaningful increase in nausea-free days, indicating a clear improvement in patient quality of life, Duncan tells investors in a research note. The analyst sees value in the shares despite yesterday’s 26% rally.
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