In a report released today, Derek Archila from Wells Fargo maintained a Buy rating on Ascendis Pharma, with a price target of $289.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Derek Archila has given his Buy rating due to a combination of factors that suggest a positive outlook for Ascendis Pharma. The company’s drug, Yorvipath, is experiencing increasing adoption and improved access, as indicated by a recent physician survey. This survey shows that a significant number of doctors have prescribed Yorvipath, and there is a growing prescriber base, which is a positive sign for the company’s market penetration.
Additionally, the survey results suggest that future utilization of Yorvipath is expected to be robust, with a projected increase in patient share by the end of 2025. This growth is supported by the fact that a substantial portion of patients are well-controlled on the drug, aligning with the company’s bullish expectations. Furthermore, Archila anticipates that Yorvipath’s revenue will exceed current market estimates, contributing to a favorable stock performance and justifying the Buy rating.
In another report released on July 2, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $250.00 price target.