Bank of America Securities analyst Tazeen Ahmad has maintained their bullish stance on ASND stock, giving a Buy rating yesterday.
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Tazeen Ahmad has given his Buy rating due to a combination of factors including the superior clinical efficacy profile of Ascendis Pharma’s Yorvipath compared to its competitors. Despite a positive phase 2 data release from MBX Biosciences for their candidate canvuparatide, Ahmad believes Yorvipath maintains a competitive edge due to its efficacy and convenient dosing, which are crucial for disease management and reducing pill burden.
Additionally, the upcoming US regulatory decision on TransCon CNP for ACH is seen as a significant catalyst for Ascendis Pharma, with expectations of approval bolstered by favorable preliminary opinions from the European Patent Office. The company’s proprietary TransCon technology is highlighted as a differentiator, with a projected peak risk-adjusted sales of $1.1 billion contributing substantially to the price objective. These factors collectively support the Buy rating and the price objective of $230.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $220.00 price target.