Analyst Derek Archila of Wells Fargo reiterated a Buy rating on Ascendis Pharma (ASND – Research Report), retaining the price target of $289.00.
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Derek Archila has given his Buy rating due to a combination of factors surrounding Ascendis Pharma’s promising developments and market performance. The recent update on the US launch of Yorvipath is notably positive, surpassing expectations with approximately 908 patients already on therapy, well above initial estimates. The breadth of prescribing physicians and the predominance of new patients, rather than those from prior programs, further bolster confidence in the product’s market penetration.
Additionally, Archila’s revised earnings projections for 2025 reflect an optimistic outlook, raising the forecasted revenue for Yorvipath based on the current trajectory. While the focus remains on the Yorvi launch, there is also potential for Skytrofa to contribute to revenue growth through expanded indications. Updates on the TransCon CNP development are on track, with regulatory submissions expected, adding another layer of potential future growth. These elements collectively underline a strong buy case for Ascendis Pharma.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $192.00 price target.
ASND’s price has also changed slightly for the past six months – from $128.480 to $126.140, which is a -1.82% drop .