In a report released yesterday, Tazeen Ahmad from Bank of America Securities maintained a Buy rating on Ascendis Pharma (ASND – Research Report), with a price target of $216.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors that highlight Ascendis Pharma’s potential in the achondroplasia treatment market. The company’s TransCon CNP, which is currently under FDA review, is seen as having a competitive edge due to its weekly dosing schedule, contrasting with the daily injections required by its competitor, Voxzogo. This convenience is expected to drive patient preference and uptake, especially if the FDA grants approval based on one-year data, as opposed to the two-year data required for Voxzogo.
Additionally, the potential for a synergistic effect when combining TransCon CNP with TransCon hGH is promising, as it targets different growth pathways, potentially enhancing treatment efficacy. The expert opinion also suggests that Ascendis Pharma’s approach to coformulation could simplify dosing, making it more appealing to the medical community. Despite the need for more long-term data to confirm the benefits in reducing disease-related comorbidities, the early start of treatment is seen as beneficial. These factors, combined with a positive outlook on the Yorvipath launch, support the Buy rating and the price objective of $216.
In another report released on June 25, UBS also reiterated a Buy rating on the stock with a $197.00 price target.
ASND’s price has also changed moderately for the past six months – from $140.310 to $172.950, which is a 23.26% increase.