Analyst Joseph Schwartz of Leerink Partners reiterated a Buy rating on Ascendis Pharma (ASND – Research Report), boosting the price target to $190.00.
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Joseph Schwartz’s rating is based on the impressive early performance of Ascendis Pharma’s Yorvipath in the US market. As of early February, the company reported 908 prescriptions across 44 states, indicating robust demand and a successful launch for this promising drug. The sales figures for Yorvipath exceeded expectations, with €28.7 million in revenues for FY24, slightly surpassing consensus estimates.
Schwartz also notes that a significant portion of these prescriptions come from new patients, suggesting a strong appeal to a broader patient base and a supportive market for continued growth. Additionally, the number of unique prescribers reflects a widespread acceptance among healthcare providers, further bolstering confidence in Ascendis Pharma’s potential for future success. These factors underpin the Buy rating and an increased price target, reflecting optimism about the company’s growth trajectory.
According to TipRanks, Schwartz is a 5-star analyst with an average return of 13.2% and a 41.53% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Insmed, Ascendis Pharma, and PTC Therapeutics.
In another report released yesterday, Goldman Sachs also reiterated a Buy rating on the stock with a $225.00 price target.