Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Vanda and keeping the price target at $20.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors, primarily revolving around Vanda’s recent agreement with the FDA. This collaborative framework is seen as a positive step towards resolving disputes concerning Vanda’s drugs, HETLIOZ and tradipitant, which could lead to a smoother regulatory process.
The agreement includes expedited re-reviews for both drugs, potentially accelerating their approval timelines. This development is viewed as a significant improvement in Vanda’s relationship with the FDA, which may facilitate near-term approvals. Despite the uncertainties, these factors contribute to a positive outlook for Vanda’s stock, justifying the Buy rating and a 12-month price target of $20.
According to TipRanks, Selvaraju is a 5-star analyst with an average return of 20.3% and a 52.42% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Bioxcel Therapeutics, Emergent Biosolutions, and Vanda.