Strong Initial Demand and Encouraging Payor Coverage Drive Buy Rating for Ascendis Pharma’s Yorvipath

Tazeen Ahmad, an analyst from Bank of America Securities, maintained the Buy rating on Ascendis Pharma (ASND – Research Report). The associated price target remains the same with $192.00.

Tazeen Ahmad’s rating is based on the promising initial demand for Ascendis Pharma’s Yorvipath, as indicated by a survey of endocrinologists. The survey revealed a strong uptake, with a significant number of scripts written for uncontrolled HPT patients since the product’s launch. This suggests a positive reception among healthcare professionals, which could drive further adoption.
Moreover, the early payor coverage dynamics are encouraging, with a high percentage of patients receiving the drug through insurance. This coverage is crucial for the product’s success, and while there are still uncertainties regarding payor stances for well-controlled HPT patients, the potential for expanded usage in this population presents additional upside. The combination of these factors supports the Buy rating with a price objective of $192.

According to TipRanks, Ahmad is an analyst with an average return of -6.7% and a 41.15% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Vertex Pharmaceuticals, and Ascendis Pharma.