Analyst Yun Zhong from Wedbush reiterated a Buy rating on Ascendis Pharma (ASND – Research Report) and increased the price target to $212.00 from $181.00.
Yun Zhong has given his Buy rating due to a combination of factors that highlight Ascendis Pharma’s strong market position and growth potential. The impressive launch of Yorvipath in the U.S., with revenues significantly surpassing expectations and a substantial number of prescriptions written, underscores the drug’s acceptance and the company’s ability to meet a critical unmet medical need. The management’s guidance for substantial revenue growth, particularly with the expansion into European markets, further supports the positive outlook for Ascendis Pharma.
Additionally, the potential of TransCon CNP as a future value driver, with significant milestones such as the completion of NDA submission and upcoming clinical data, adds to the company’s growth prospects. The anticipated recovery in Skytrofa’s revenue, alongside potential FDA approval for adult patients, also contributes to the optimistic forecast. These factors, combined with a strong cash position, make Ascendis Pharma a compelling investment opportunity, justifying the Buy rating and increased price target.
In another report released on April 25, Evercore ISI also maintained a Buy rating on the stock with a $260.00 price target.