1153 ET - Vanda Pharmaceuticals is a potential under-the-radar sleeper hit, says H.C. Wainwright, which initiates coverage of the biopharma's shares with a buy rating and $18 price target. In a research note, analyst Raghuram Selvaraju says he believes generic threats to Vanda's sleep-disorders franchise and the FDA's recent rejection of tradipitant in gastroparesis have obscured the investors' sight of Vanda's underlying value proposition. H.C. Wainwright says Vanda has a well-established commercial portfolio, a pipeline of potentially highly accretive programs and a negative enterprise value, trading at an almost 30% discount to its last reported cash position. Vanda up 2.1% to $4.66. (colin.kellaher@wsj.com)
(END) Dow Jones Newswires
October 31, 2024 11:53 ET (15:53 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。