J.P. Morgan analyst Jessica Fye has reiterated their bullish stance on ASND stock, giving a Buy rating yesterday.
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Jessica Fye’s rating is based on the promising long-term data from Ascendis Pharma’s Yorvipath, which has demonstrated sustained benefits in kidney function over three years in patients with chronic hypoparathyroidism. The phase III PaTHway trial results show that Yorvipath not only normalizes serum calcium levels without excessive supplements but also maintains a durable improvement in eGFR, a key indicator of kidney health.
Additionally, Fye is optimistic about Ascendis Pharma’s financial outlook, projecting higher-than-consensus sales for Yorvipath in the near term and anticipating the company’s move towards profitability. The potential approval of a third drug, TransCon CNP, later this year further strengthens the company’s growth prospects. These factors collectively contribute to Fye’s Buy rating for Ascendis Pharma, reflecting confidence in both the company’s current performance and future potential.