Derek Archila, an analyst from Wells Fargo, maintained the Buy rating on Ascendis Pharma (ASND – Research Report). The associated price target remains the same with $289.00.
Derek Archila has given his Buy rating due to a combination of factors surrounding Ascendis Pharma’s Yorvipath and its competitive positioning against AZN’s eneboparatide. Archila remains optimistic about Yorvipath’s performance in treating HypoPTH, noting that it has set a high benchmark with its long-term efficacy data. Despite the potential success of eneboparatide’s Phase 3 trial, Archila believes it will be challenging for it to surpass Yorvipath’s established results.
Furthermore, Archila highlights that even if eneboparatide shows similar efficacy, the market for HypoPTH is substantial enough to support multiple billion-dollar therapies. He anticipates that if AZN only releases limited positive trial results, ASND shares might experience temporary weakness, presenting a buying opportunity. Archila’s analysis suggests that the market may not fully appreciate the size of the HypoPTH market, reinforcing his positive outlook on Ascendis Pharma’s stock.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $162.00 price target.