Ascendis Pharma, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Yun Zhong from Wedbush maintained a Buy rating on the stock and has a $212.00 price target.
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Yun Zhong has given his Buy rating due to a combination of factors surrounding Ascendis Pharma’s Yorvipath. The three-year data from the Phase 3 PaTHway study highlighted a notable retention rate and sustained efficacy, which underscores the drug’s potential in treating hypoparathyroidism. The study demonstrated that a significant percentage of patients maintained normal serum calcium levels and achieved independence from conventional therapies, which is a strong indicator of Yorvipath’s effectiveness.
Additionally, the data showed improvements in renal function over time, further supporting the drug’s clinical benefits. The robust prescription growth, with a substantial increase in the number of prescriptions and prescribers, indicates strong market adoption. Management’s guidance for substantial revenue growth and expansion into European markets also contributes to the positive outlook, reinforcing the Buy rating for Ascendis Pharma’s stock.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $243.00 price target.