In a report released today, Yun Zhong from Wedbush maintained a Buy rating on Ascendis Pharma (ASND – Research Report), with a price target of $212.00.
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Yun Zhong has given his Buy rating due to a combination of factors related to Ascendis Pharma’s recent clinical trial results and future prospects. The 26-week data from the Phase 2 COACH study demonstrated that the combination therapy of TransCon hGH and TransCon CNP significantly increased annualized growth velocity (AGV) in patients with achondroplasia. This increase was more pronounced than with TransCon CNP treatment alone, suggesting a potential superiority of the combination therapy.
Furthermore, the combination therapy not only improved AGV but also showed a consistent improvement in the ACH Height Z-Score, indicating enhanced efficacy. The company plans to initiate a Phase 3 study by the end of 2025, which will further compare the combination therapy with TransCon CNP monotherapy. Additionally, the potential FDA approval for TransCon CNP in achondroplasia by late 2025 and the exploration of other growth-related indications, such as hypochondroplasia, add to the positive outlook for Ascendis Pharma, supporting the Buy rating.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $250.00 price target.