Ascendis Pharma (ASND – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 1. Analyst Joseph Schwartz from Leerink Partners maintained a Buy rating on the stock and has a $200.00 price target.
Joseph Schwartz’s rating is based on the impressive performance of Ascendis Pharma’s Yorvipath, which has shown strong sales figures and prescription numbers early in its launch. The company reported first-quarter sales of €44.7 million, significantly surpassing both the consensus estimate and the firm’s own aggressive projections. This robust performance suggests a promising trajectory for continued growth in the upcoming quarters.
Additionally, Ascendis Pharma’s pipeline, particularly the recent submission of the New Drug Application for TransCon CNP for achondroplasia, adds potential upside to the company’s valuation. The ongoing success of Yorvipath, combined with the underappreciated potential of the TransCon CNP program, positions Ascendis as a compelling investment opportunity. Consequently, the price target has been raised to $200, reinforcing the Buy rating.
Schwartz covers the Healthcare sector, focusing on stocks such as Travere Therapeutics, Ascendis Pharma, and Avidity Biosciences. According to TipRanks, Schwartz has an average return of 14.4% and a 42.74% success rate on recommended stocks.
In another report released today, Morgan Stanley also upgraded the stock to a Buy with a $250.00 price target.