Jefferies analyst Kelly Shi maintained a Buy rating on Ascendis Pharma (ASND – Research Report) yesterday and set a price target of $233.00.
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Kelly Shi has given her Buy rating due to a combination of factors that highlight the potential of Ascendis Pharma’s TransCon CNP and hGH combination therapy. The interim analysis from the Phase 2 COACH trial demonstrated a significant increase in annualized growth velocity (AGV) for treatment-naive patients with achondroplasia, showing a growth of 4.23 cm/year over baseline, which is more than double the efficacy of TransCon CNP monotherapy. This suggests that the combination therapy could offer best-in-class efficacy, surpassing competitors like Voxzogo and Infigratinib in terms of growth improvement.
Additionally, the safety profile of the combination therapy remains favorable, with all treatment-related adverse events being mild to moderate. The convenience of weekly dosing and the potential for future co-formulation are expected to enhance the commercial competitiveness of TransCon CNP. These factors, along with the possibility of expanding the therapy to additional indications, contribute to the optimistic outlook and increased market share expectations, justifying the Buy rating.
According to TipRanks, Shi is an analyst with an average return of -3.0% and a 39.41% success rate. Shi covers the Healthcare sector, focusing on stocks such as Summit Therapeutics, Legend Biotech, and Verastem.
In another report released today, RBC Capital also maintained a Buy rating on the stock with a $210.00 price target.