Analyst Tazeen Ahmad of Bank of America Securities reiterated a Buy rating on Ascendis Pharma, boosting the price target to $217.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors including the recent FDA approval for the label expansion of Skytrofa for adult growth hormone disease (GHD), which aligns with prior expectations. Although the expansion is seen as incremental due to adults being less likely to seek treatment, the approval has increased the likelihood of success for the program to 100%, contributing positively to the stock’s price objective.
Furthermore, the anticipated launch of Yorvipath in hypoparathyroidism is a significant driver for the positive outlook, with survey data indicating growing demand and improved payor coverage. The upcoming US regulatory decision for TransCon CNP, with a high likelihood of success, also supports the Buy rating as it reflects continued positive feedback from key opinion leaders. These factors collectively underpin the bullish stance on Ascendis Pharma’s stock.
Ahmad covers the Healthcare sector, focusing on stocks such as Ascendis Pharma, ACADIA Pharmaceuticals, and Vertex Pharmaceuticals. According to TipRanks, Ahmad has an average return of -4.5% and a 47.66% success rate on recommended stocks.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $250.00 price target.