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Vanda Pharmaceuticals (VNDA +2.4%) moves up after Jefferies raised its rating to Buy on the...

Vanda Pharmaceuticals (VNDA +2.4%) moves up after Jefferies raised its rating to Buy on the shares earlier today, and ups its price target from $3.50 to $6.00. The firm cites surprisingly good Phase 3 data for Tasimelteon, noting that even the drugs conservatively discounted contribution is likely to have a big upside from current negative EV level.
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