BofA analyst Tazeen Ahmad raised the firm’s price target on Ascendis Pharma (ASND) to $201 from $196 and keeps a Buy rating on the shares after the company announced the NDA submission for TransCon CNP in achondroplasia was accepted by the FDA with a priority review and an assigned PDUFA action date of November 30. The firm, which also notes that the FDA commented that they are not currently planning to hold an advisory committee meeting, thinks the acceptance with priority review and no adcom provides some de-risking of the likelihood of approval and “provides a clear line of sight on a potential timeline to market,” the analyst tells investors. The firm increased its view of the U.S. likelihood-of-success for TransCon CNP to 90% from 75% and continues to assume a commercial launch in 2026.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ASND:
- Ascendis Pharma’s TransCon CNP Receives FDA Priority Review
- FDA accepts Ascendis Pharma’s NDA for TransCon CNP for priority review
- Ascendis Pharma’s AGM Approves Key Resolutions and Strategic Authorizations
- Optimistic Outlook for Ascendis Pharma: Buy Rating Driven by COACH Phase 2 Trial and Yorvipath Launch
- Ascendis Pharma Grants Employee Warrants to Boost Engagement
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue