Analyst Tazeen Ahmad from Bank of America Securities maintained a Buy rating on Ascendis Pharma (ASND – Research Report) and keeping the price target at $192.00.
Tazeen Ahmad’s rating is based on the promising outlook for Ascendis Pharma’s Yorvipath, which has a first-to-market advantage in the treatment of hypoparathyroidism (HPT). Despite a competitor, AstraZeneca, releasing topline results for their phase 3 trial of eneboparatide, the details were minimal, making it difficult to compare directly with Yorvipath. Ahmad emphasizes that the lack of differentiation in dosing and the absence of detailed data on patient outcomes from AstraZeneca’s trial further bolster Yorvipath’s competitive position.
Additionally, the launch of Yorvipath in the U.S. has been well-received, with key opinion leaders highlighting its market lead as a significant advantage. Ahmad maintains a bullish outlook for Yorvipath’s sales, projecting substantial revenue by FY25, and continues to see Ascendis Pharma as a top pick for 2025. The Buy rating is supported by these factors, alongside a price objective of $192, reflecting confidence in the company’s growth potential.
In another report released yesterday, Wedbush also reiterated a Buy rating on the stock with a $181.00 price target.
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