Leerink Partners analyst Joseph Schwartz has maintained their bullish stance on ASND stock, giving a Buy rating on March 27.
Joseph Schwartz has given his Buy rating due to a combination of factors including the promising developments in Ascendis Pharma’s TransCon CNP program for achondroplasia. The recent submission of the New Drug Application to the FDA marks a significant milestone, supported by positive results from pivotal studies, which highlight the potential of TransCon CNP to differentiate itself from existing treatments like BioMarin’s Voxzogo.
Moreover, the commercial success of Yorvipath in hypoparathyroidism demonstrates Ascendis Pharma’s capability in executing successful product launches. With the anticipation of further data from the COACH study and the expected submission of the Marketing Authorization Application to the EMA, Schwartz sees a strong growth trajectory for Ascendis Pharma, projecting substantial peak sales and maintaining a high probability of success for the TransCon CNP program.
In another report released on March 27, UBS also reiterated a Buy rating on the stock with a $196.00 price target.
ASND’s price has also changed slightly for the past six months – from $146.600 to $151.430, which is a 3.29% increase.