Ascendis Pharma, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Eliana Merle from UBS maintained a Buy rating on the stock and has a $307.00 price target.
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Eliana Merle’s rating is based on Ascendis Pharma’s strong position in the chronic hypoparathyroidism market, particularly with their product Yorvipath. Despite the recent data release from a competitor, MBX, which showed promising results for their weekly PTH treatment, Merle believes that Ascendis Pharma maintains a leadership position due to Yorvipath’s demonstrated efficacy and time to market advantage.
Merle also highlights the significant market potential for chronic hypoparathyroidism, estimated to be over $10 billion, and sees Ascendis Pharma as well-positioned to capitalize on this opportunity. The anticipated profitability and growth from Yorvipath, along with the upcoming launch of TransConCNP, further support the Buy rating, as these factors suggest a positive trajectory for Ascendis Pharma’s financial performance.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $220.00 price target.