Wedbush analyst Yun Zhong has maintained their bullish stance on ASND stock, giving a Buy rating on February 13.
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Yun Zhong has given his Buy rating due to a combination of factors influencing Ascendis Pharma’s prospects. The discontinuation of a competing program by Septerna, a potential rival in the treatment of hypoparathyroidism, enhances Ascendis Pharma’s market position. This development reduces competitive pressure on Ascendis Pharma’s Yorvipath, their own treatment for hypoparathyroidism, which is notable for its positive impact on patients’ quality of life.
Furthermore, the strong prescription numbers reported by Ascendis Pharma indicate a promising market uptake for Yorvipath. With 908 unique prescriptions, of which around 80% are new patients, there is optimism about the drug’s competitive edge and potential for growth in the hypoparathyroidism market. These factors combined suggest a favorable outlook for Ascendis Pharma, justifying the Buy rating.
According to TipRanks, Zhong is an analyst with an average return of -21.4% and a 28.57% success rate. Zhong covers the Healthcare sector, focusing on stocks such as Ascendis Pharma, Rezolute, and Protagonist Therapeutics.
In another report released on February 13, Bank of America Securities also reiterated a Buy rating on the stock with a $192.00 price target.