BofA Securities raises Ascendis Pharma stock price target to $201

On Monday, BofA Securities analysts increased the price target for Ascendis Pharma stock (NASDAQ: NASDAQ:ASND) to $201 from $196, while maintaining a Buy rating. The stock, currently trading at $176.17, has shown strong momentum with a 22% gain over the past six months. According to InvestingPro data, analyst targets range up to $293.39, suggesting significant upside potential. This adjustment follows Ascendis Pharma’s announcement that the New Drug Application (NDA) for TransCon CNP in achondroplasia (ACH) has been accepted by the U.S. Food and Drug Administration (FDA) with priority review, with a PDUFA action date set for November 30.

The FDA’s acceptance of the NDA submission has been seen as a positive development, especially given prior investor concerns that the agency might require two-year data before moving forward. The priority review and the absence of a planned advisory committee meeting are viewed by analysts as reducing some of the risks associated with the likelihood of approval. InvestingPro analysis shows the company maintains a moderate debt level with a healthy current ratio of 1.04, suggesting adequate resources to support its regulatory initiatives.

BofA Securities analysts note the importance of additional insights into Ascendis Pharma’s commercial launch strategy, particularly in light of previous delays experienced from the approval to the U.S. launch of Yorvipath. The analysts currently project a 2026 launch for TransCon CNP and estimate peak risk-adjusted sales of $678 million.

In addition to the NDA acceptance, the analysts pointed out the upcoming topline data release for the phase 2 study of the TransCon CNP and TransCon hGH combination in ACH, expected in the second quarter. They believe that positive results from this study could further differentiate Ascendis Pharma in the ACH treatment market.

The analysts reiterated their Buy rating on Ascendis Pharma stock, emphasizing the potential for the company’s developments to enhance its position in the market. With a market capitalization of $9.83 billion and revenue growth of 12.06%, the company shows promising development potential. For deeper insights into Ascendis Pharma’s financial health and growth prospects, InvestingPro subscribers can access additional tips and comprehensive analysis in the Pro Research Report.

In other recent news, Ascendis Pharma announced that the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application for TransCon CNP for priority review, with a goal date set for November 30, 2025. This investigational drug targets children with achondroplasia, a genetic bone growth disorder, and has shown promising results in clinical trials, improving growth velocity and bone structure with a safety profile similar to placebo. Additionally, Ascendis Pharma reported positive outcomes from the ApproaCH Trial, highlighting significant growth improvements in children treated with TransCon CNP. In other developments, Stifel analysts maintained their Buy rating on Ascendis Pharma, with a price target of $212, reflecting confidence in the company’s strategies for its hypoparathyroidism treatment, Yovipath. Ascendis Pharma also shared new data from its Phase 2 PaTH Forward Trial, showing sustained benefits of TransCon PTH in adults with hypoparathyroidism, including improved kidney function and normalized skeletal dynamics. These advancements underscore Ascendis Pharma’s ongoing efforts to address unmet medical needs through its TransCon technology platform.

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