Tazeen Ahmad, an analyst from Bank of America Securities, reiterated the Buy rating on Ascendis Pharma (ASND – Research Report). The associated price target was raised to $196.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors including the impressive performance of Ascendis Pharma’s Yorvipath in the first quarter. The company reported revenues significantly exceeding expectations, largely driven by a strong launch in the US market. This positive trend in the US, along with favorable early payor coverage decisions, supports a promising long-term outlook for Yorvipath. Additionally, a recent survey indicates a substantial portion of patients could be using Yorvipath within the next year, suggesting a faster uptake trajectory.
Despite modest first-quarter revenues for Skytrofa, management anticipates a reversal of seasonal headwinds and is focusing on growth through label expansion. The company is also awaiting FDA acceptance of the TransCon CNP NDA filing, which could further bolster its portfolio. Ascendis Pharma’s strategic initiatives and strong market performance make it a top pick for 2025, justifying the Buy rating with a price objective of $196.
In another report released today, TD Cowen also reiterated a Buy rating on the stock with a $194.00 price target.
ASND’s price has also changed moderately for the past six months – from $125.280 to $167.470, which is a 33.68% increase.