In a report released today, Tazeen Ahmad from Bank of America Securities maintained a Buy rating on Ascendis Pharma (ASND – Research Report), with a price target of $192.00.
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Tazeen Ahmad’s rating is based on several compelling factors that favor Ascendis Pharma. Firstly, the discontinuation of a competitor’s asset due to safety concerns underscores the unique, differentiated profile of Ascendis Pharma’s Yorvipath, reinforcing confidence in its ongoing launch in the US market. Ascendis Pharma’s sales projections for Yorvipath are robust, with anticipated increased demand as payor policies are resolved.
Additionally, insights from key opinion leaders suggest that Yorvipath has set a high clinical standard that upcoming therapies may struggle to surpass. Despite potential competition, Yorvipath’s first-mover advantage and the current stage of competitor developments position it favorably. Furthermore, the company is poised for multiple pipeline milestones in 2025, including regulatory submissions and data presentations, bolstering its growth prospects. These elements collectively justify the Buy rating and a price objective of $192.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $181.00 price target.