Ascendis Pharma (ASND – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on the stock and has a $192.00 price target.
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Tazeen Ahmad’s rating is based on several promising developments for Ascendis Pharma. The early demand trends for Yorvipath in the U.S. have been encouraging, with a significant portion of the prescriptions being for new patients. While payor coverage is expected to be crucial for the product’s success, the positive early feedback suggests a strong potential for growth. The company has also set ambitious peak sales targets for Yorvipath, contributing to the Buy rating.
Additionally, while there is no specific guidance for Skytrofa sales in 2025, the company has implemented a broader access plan aimed at supporting long-term growth. This strategic move, along with the expected label expansion, indicates a favorable outlook for future sales. Furthermore, the progress on TransCon CNP, including upcoming regulatory filings and promising clinical data, adds to the confidence in Ascendis Pharma’s growth prospects. These factors combined have led Tazeen Ahmad to maintain a Buy rating with a price objective of $192.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $162.00 price target.