BofA Reiterates Buy Rating on Ascendis Pharma (ASND) While Wells Fargo Analyst Raises PT

Ascendis Pharma A/S (NASDAQ:ASND) is one of the 11 Best Stocks to Buy for Investment.

On January 27, BofA reiterated a Buy rating on Ascendis Pharma A/S (NASDAQ:ASND). Tazeen Ahmad at BofA retained the rating on ASND and maintained the price target at $246.

In other news, on January 20, TheFly reported that Wells Fargo analyst Derek Archila upgraded the price target on Ascendis Pharma from $322 to $330, keeping an Overweight rating on the stock. Archila noted Ascendis Pharma’s €500 million operating cash flow guidance, excluding TransCon CNP, implying €1.1- €1.2 billion for Yorvipath. The analyst said this is in line with the company’s forecast of €40 million to €50 million in quarter-over-quarter revenue growth.

Archila believes that the TransCon CNP with the Skytrofa combo will potentially become the standard of care over time, representing upside for the company. Skytrofa is being used for the treatment of pediatric growth hormone deficiency, while TransCon is being developed for achondroplasia.

Ascendis Pharma A/S (NASDAQ:ASND) is a biopharmaceutical firm developing TransCon-based therapies to address unmet medical needs worldwide.

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Disclosure: None. This article is originally published at Insider Monkey.