RBC Capital initiated coverage of Ascendis Pharma (ASND) with an Outperform rating and $205 price target. The stock has outperformed the S&P Biotech ETF XBI lately, but the firm sees more upside from here given that its extensive checks with multiple docs suggest that Yorvipath will be a EUR 3B drug, the analyst tells investors in a research note. Ascendis has a golden opportunity to capitalize on first-mover advantage given that AstraZeneca (AZN) is unlikely differentiated and MBX Biosciences (MBX) is “materially behind”, RBC adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ASND:
- Strong Initial Demand and Encouraging Payor Coverage Drive Buy Rating for Ascendis Pharma’s Yorvipath
- Ascendis Pharma Grants Employee Warrants to Boost Retention
- Buy Rating for Ascendis Pharma Driven by Promising TransCon CNP Developments and Strong Growth Prospects
- Ascendis Pharma Submits FDA Application for Achondroplasia Treatment
- Ascendis Pharma submits TransCon CNP NDA to FDA