Ram Selvaraju, an analyst from H.C. Wainwright, reiterated the Buy rating on Vanda (VNDA – Research Report). The associated price target remains the same with $20.00.
Ram Selvaraju has given his Buy rating due to a combination of factors including the recent acceptance of Vanda’s New Drug Application for tradipitant by the FDA, which is a positive step despite past challenges with the agency. Although the drug’s contribution to the company’s valuation is not currently factored in, this development could be seen as a potential upside.
Additionally, Vanda’s neuropsychiatry portfolio is a significant value driver, with ongoing and upcoming studies for Fanapt and Bysanti, targeting various psychiatric conditions. The company’s strong financial position, with substantial cash reserves and no debt, also supports its ability to pursue further business development opportunities, potentially leading to sustainable profitability by 2026.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VNDA in relation to earlier this year.