Analyst Yaron Werber from TD Cowen reiterated a Buy rating on Ascendis Pharma (ASND – Research Report) and increased the price target to $194.00 from $162.00.
Yaron Werber’s rating is based on several promising developments for Ascendis Pharma. The company has seen a strong launch of Yorvipath, with first-quarter sales significantly surpassing expectations, indicating robust market adoption and potential for continued growth. This success is driven by pent-up demand and a broad base of new prescribers, suggesting a solid foundation for future revenue increases.
Despite some initial challenges with Skytrofa, including missed revenue targets due to seasonal factors and market dynamics, there are upcoming opportunities that could enhance its market position. The anticipated PDUFA decision for adult growth hormone deficiency and the initiation of a basket trial for growth hormone indications present potential catalysts for growth. Additionally, the submission of the NDA for TransCon CNP and the expected regulatory progress further support a positive outlook for Ascendis Pharma, making it an attractive investment at current levels.
In another report released yesterday, Wedbush also reiterated a Buy rating on the stock with a $212.00 price target.