H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Vanda today and set a price target of $20.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors related to Vanda’s promising pipeline and strategic advancements. One of the key reasons is the recent Orphan Drug Designation granted by the FDA for VGT-1849B, a JAK2 inhibitor aimed at treating polycythemia vera. This drug shows potential due to its novel approach in selectively targeting JAK2 mRNA, which could offer a safer and more effective treatment option compared to existing therapies that lack specificity and may cause off-target effects.
Additionally, the upcoming decision on the approval of Bysanti (milsaperidone) as an adjunctive treatment for major depressive disorder adds to the potential upside. If approved, Bysanti would benefit from regulatory data exclusivity and could significantly contribute to Vanda’s growth. These factors, combined with the potential market exclusivity and improved safety profile of VGT-1849B, underpin Selvaraju’s positive outlook and Buy rating for Vanda’s stock.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is neutral on the stock.