Yun Zhong, an analyst from Wedbush, maintained the Buy rating on Ascendis Pharma. The associated price target was raised to $240.00.
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Yun Zhong has given his Buy rating due to a combination of factors related to Ascendis Pharma’s achondroplasia program and its commercial prospects. The 52‑week Phase 2 COACH data for the TransCon CNP/hGH combination show durable improvements in annualized growth velocity and body proportionality in both treatment‑naïve and previously treated patients, outperforming TransCon CNP alone and reinforcing the clinical value of the combo. Management has already completed an End‑of‑Phase 2 meeting with the FDA and is targeting a Phase 3 trial start around 2026, with a design that directly compares the combination against TransCon CNP monotherapy, which supports a clear path toward potential registration. The upcoming 78‑week readout, if it confirms sustained growth and proportionality benefits, could further de‑risk the program and strengthen its competitive profile.
Zhong also views the TransCon CNP franchise as well positioned commercially despite emerging competition, noting that the combination regimen can provide additional flexibility, such as offering a growth “boost” while maintaining TransCon CNP as the core therapy in achondroplasia. While oral competitors may offer dosing convenience, historical experience with injectable CNP therapies suggests that demonstrated efficacy remains the primary driver for patient and caregiver choice, which favors a product with robust and durable data. The strong combination results have led Zhong to raise projected market share for TransCon CNP, reflecting an expectation of broader adoption in the achondroplasia market. In line with this improved outlook, he increased his price target from $220 to $240 and reaffirmed an Outperform (Buy) rating on Ascendis Pharma.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $256.00 price target.