Ascendis Pharma, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on the stock and has a $242.00 price target.
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Tazeen Ahmad has given his Buy rating due to a combination of factors including the promising uptake of Yorvipath, a key product for Ascendis Pharma. The survey conducted among endocrinologists showed an increase in prescriptions, indicating a positive trend in the drug’s adoption. This growth is expected to continue as more prescribers become active, and the long-term potential is reinforced by the expectation that up to 47% of patients could eventually be on therapy.
Additionally, the anticipated U.S. approval decision for TransCon CNP by the end of November is another critical factor. This approval could significantly impact Ascendis Pharma’s market position, with a high likelihood of success and a projected launch in 2026. Despite some near-term challenges with Skytrofa revenues, the overall outlook for Ascendis Pharma remains strong, justifying the increased price objective and the Buy rating.
Ahmad covers the Healthcare sector, focusing on stocks such as Ascendis Pharma, PTC Therapeutics, and Sarepta Therapeutics. According to TipRanks, Ahmad has an average return of -0.9% and a 51.94% success rate on recommended stocks.
In another report released on October 17, Raymond James also initiated coverage with a Buy rating on the stock with a $271.00 price target.