Bank of America Securities analyst Tazeen Ahmad reiterated a Buy rating on Ascendis Pharma yesterday and set a price target of $227.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors that highlight Ascendis Pharma’s promising growth trajectory. The company reported impressive second-quarter revenues for Yorvipath, significantly surpassing market expectations, which indicates strong market adoption and potential for blockbuster status. The management’s optimism about continued patient enrollment and the anticipated acceleration in drug uptake further supports this positive outlook.
Additionally, while Skytrofa’s revenues were flat and below expectations, its recent FDA approval for adult growth hormone deficiency presents a long-term growth opportunity. The company’s pipeline, including TransCon CNP under priority review, adds to the potential for future growth. These elements combined with the company’s strategic initiatives and market positioning justify the Buy rating and the revised price objective of $227.
According to TipRanks, Ahmad is an analyst with an average return of -3.4% and a 49.90% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Ascendis Pharma, Argenx Se, and Avidity Biosciences.
In another report released today, TD Cowen also reiterated a Buy rating on the stock with a $227.00 price target.