Morgan Stanley analyst Vikram Purohit raised the firm’s price target on Ascendis Pharma to $140 from $116 and keeps an Equal Weight rating on the shares. The FDA extended the review period for TransCon PTH by three months and pushed out the PDUFA date to August, notes the firm. While a further delay has “likely generated some disappointment,” management “telegraphed confidence regarding the path forward” and noted that a Q3 launch remains possible, the analyst tells investors.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ASND:
- Ascendis approval still likely despite PDUFA push out, says BofA
- FDA Delays Ascendis Pharma’s Drug Review
- Ascendis says TransCon PTH PDUFA target action date extended three months
- Ascendis Pharma Announces Extension of U.S. Food and Drug Administration Review Period for TransCon™ PTH for Adults with Hypoparathyroidism
- Ascendis announces 2-year results from post-hoc analysis of Phase 3 trial