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Investing.com - Cantor Fitzgerald has reiterated an Overweight rating and $200.00 price target on Ascendis Pharma (NASDAQ:ASND) ahead of the company’s second-quarter earnings report scheduled for Thursday, August 7. The stock, which has surged 43% over the past six months and trades near its 52-week high of $183, enjoys a strong bullish consensus among analysts with a 1.19 rating according to InvestingPro data.
The research firm has published a monthly launch model for Yorvipath U.S. sales, forecasting that second-quarter Yorvipath sales will likely exceed $93 million, which it believes is the threshold needed to move shares higher according to its buyside survey.
Cantor Fitzgerald noted that even in its worst-case scenario analysis, Yorvipath should be able to surpass this sales threshold.
The current Wall Street consensus estimate for Yorvipath stands at $83 million, which the research firm views as "very conservative."
Ascendis Pharma is set to report its complete second-quarter financial results on Thursday, which will provide official figures for Yorvipath’s performance in the U.S. market. For deeper insights into Ascendis Pharma’s financial health and growth prospects, including 6 additional ProTips and comprehensive valuation metrics, visit InvestingPro.
In other recent news, Ascendis Pharma has received approval from the U.S. Food and Drug Administration for its drug SKYTROFA, now available for treating growth hormone deficiency in adults. This approval follows its previous authorization for pediatric use in 2021. Additionally, Ascendis Pharma has reported positive three-year data from its Phase 3 PaTHway Trial for TransCon PTH, indicating sustained benefits for adults with hypoparathyroidism. Morgan Stanley (NYSE:MS) has assumed coverage of Ascendis Pharma with an Overweight rating, citing the promising commercial potential of its hypoparathyroidism treatment, Yorvipath. Meanwhile, UBS has reiterated its buy rating on the company, emphasizing strong launch performance and significant demand in the hypoparathyroidism market. UBS also noted that physician checks show high interest among moderate to severe patient populations. These developments highlight the company’s expanding drug portfolio and ongoing engagement with the healthcare community.
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