Vanda Pharmaceuticals initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Vanda Pharmaceuticals (VNDA) with a Buy rating and $18 price target Vanda is a specialty pharma company focused on multiple indications within neurology, neuropsychiatry, inflammatory and autoimmune conditions and gastroenterology, the analyst tells investors in a research note. The firm says Vanda “possesses five key attractors,” including a well established commercial portfolio with multiple line extension and life cycle management opportunities, and a track record of execution from a sales and marketing standpoint.