Vanda Pharmaceuticals price target raised to $14 from $11 at B. Riley

Core Viewpoint - B. Riley has raised the price target for Vanda Pharmaceuticals (VNDA) to $14 from $11, maintaining a Buy rating, following the FDA's approval of Nereus for motion sickness-induced vomiting prevention, indicating a positive outlook for the company as it is seen as an "ongoing turnaround story" [1] Summary by Category Company Performance - The FDA approval of Nereus is expected to unlock over $100 million in peak revenue for Vanda Pharmaceuticals [1] - The approval is also significant for the potential approval of tradipitant, which is related to GLP-1 induced nausea [1] Market Position - Vanda Pharmaceuticals is currently trading at an "excessive discount" as it approaches two more potential approvals within the next 12 months [1]