Wells Fargo analyst Derek Archila has maintained their bullish stance on ASND stock, giving a Buy rating yesterday.
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Derek Archila has given his Buy rating due to a combination of factors that highlight Ascendis Pharma’s promising growth potential. The recent interim results from the COACH trial were solid and aligned with expectations, which should mitigate risks for future Phase 3 trials. This positive update is expected to modestly boost the stock price and unlock further growth opportunities, particularly with the strong launch of Yorvipath in treating HypoPTH.
Furthermore, the efficacy of TransCon CNP and Skytrofa was in line with management’s expectations, showing impressive growth velocity benefits. The improvements in body proportionality and the absence of serious adverse events further support the positive outlook. The company’s plans for a co-formulation of TransCon CNP and Skytrofa into a single injection could enhance intellectual property protection. Additionally, the stock has already seen a significant increase year-to-date due to Yorvipath’s successful launch and TransCon CNP’s priority review status, suggesting continued upward momentum.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $212.00 price target.