Ascendis Pharma (ASND – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yun Zhong from Wedbush maintained a Buy rating on the stock and has a $181.00 price target.
Yun Zhong has given his Buy rating due to a combination of factors that highlight Ascendis Pharma’s strong position in the market. One key reason is the positive outcome of the Phase 3 study for eneboparatide, which met its primary endpoint in treating hypoparathyroidism. This achievement underscores the potential of Ascendis Pharma’s product in addressing a significant medical need, despite the lack of detailed data at this stage.
Additionally, the competitive landscape appears favorable for Ascendis Pharma. With other competitors facing challenges, such as Septerna discontinuing its study and MBX Biosciences encountering unexpected results in its trials, Ascendis Pharma’s Yorvipath is expected to maintain its dominance in the hypoparathyroidism market. These factors collectively contribute to Yun Zhong’s optimistic outlook and Buy rating for Ascendis Pharma’s stock.
Zhong covers the Healthcare sector, focusing on stocks such as Ascendis Pharma, Rezolute, and Protagonist Therapeutics. According to TipRanks, Zhong has an average return of -20.3% and a 32.79% success rate on recommended stocks.
In another report released on March 6, Wells Fargo also reiterated a Buy rating on the stock with a $289.00 price target.