Analyst Tazeen Ahmad of Bank of America Securities reiterated a Buy rating on Ascendis Pharma, retaining the price target of $242.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors including the strong demand trends for Ascendis Pharma’s Yorvipath, despite a slight miss in third-quarter sales expectations. The company reported significant script growth, with over 4,250 scripts written since launch, and management anticipates continued steady growth without seasonal impact in the fourth quarter. This robust demand profile aligns with physician surveys indicating a high potential for patient uptake, suggesting a clear path to multi-blockbuster sales levels.
Additionally, Ascendis Pharma’s progress with TransCon CNP, which is in the final stages of FDA labeling discussions, contributes to the positive outlook. The absence of additional data requests from the FDA boosts confidence in timely approval, with peak sales projected at $1.1 billion. Furthermore, the company’s strategic focus on expanding Skytrofa into new indications and ongoing pipeline developments, including a once-weekly Yorvipath formulation, supports the Buy rating and reinforces Ascendis Pharma as a top pick for 2025.
ASND’s price has also changed moderately for the past six months – from $154.430 to $199.220, which is a 29.00% increase.