Citi Downgrades Vanda Pharmaceuticals (VNDA) to Neutral

(updating comment)

Citi analyst Joel Beatty downgraded Vanda Pharmaceuticals (NASDAQ: VNDA) from Buy to Neutral with a price target of $14.00.

The analyst comments "We believe upside for the stock could be limited by the company's apparent unwillingness to resolve the dispute with FDA over conducting animal studies using tradipitant. On the other hand, we believe the company's strong cash flow from its approved products limits downside."

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 $11.37 yesterday.

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