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On Tuesday, Cantor Fitzgerald’s analysts adjusted their valuation of Ascendis Pharma (NASDAQ:ASND) shares, raising the price target to $200 from the previous $170 while sustaining an Overweight rating. The revision follows Ascendis Pharma’s fourth-quarter earnings report for 2024, which indicated stronger performance than anticipated. The new target aligns with the broader analyst consensus, as InvestingPro data shows analyst targets ranging from $162 to $290, with the stock currently trading near its 52-week high of $161.
The firm’s analysts cited the impressive prescription numbers for Yorvipath as a key factor in their updated market model. This surge in prescriptions has led to an upward revision of revenue projections starting from the second quarter of 2025, contributing to the increased price target. The company has already demonstrated strong execution with revenue growth of 36.34% and an impressive gross profit margin of 87.83% in the last twelve months.
Despite the positive revenue outlook, Cantor Fitzgerald noted an expected rise in operating expenses (Opex) for 2025 that was higher than previously estimated. This adjustment has resulted in a lowered earnings per share (EPS) forecast for the year. Nonetheless, the analysts have adjusted the Opex projections in subsequent years to reflect a more even distribution.
The updated analysis by Cantor Fitzgerald reflects the firm’s confidence in Ascendis Pharma’s growth trajectory, underscored by the recent earnings report and the market response to its product Yorvipath. The higher price target suggests that the analysts see continued upside potential for the stock, despite the near-term increase in operating costs.
In other recent news, Ascendis Pharma reported a significant revenue increase for the fourth quarter of 2024, with total revenue reaching €173.9 million and contributing to a full-year revenue of €363.6 million. The company’s product, Yorvipath, saw a notable rise in U.S. prescriptions, accumulating 908 unique prescriptions shortly after its launch. Skytrofa, another key product, generated €58 million in revenue for the fourth quarter, although this fell short of some analyst estimates. Ascendis Pharma is also advancing its pipeline with upcoming regulatory filings for TransCon CNP, expected in the first and third quarters of 2025.
In terms of analyst activity, Evercore ISI raised its price target for Ascendis Pharma to $260, maintaining an Outperform rating, while TD Cowen increased its target to $162 and kept a Buy rating. Stifel also adjusted its price target to $212, maintaining a Buy rating, citing strong performance of Yorvipath. Goldman Sachs raised its price target to $225, with analysts noting positive market reactions to the company’s recent financial disclosures. These developments reflect a broadly positive outlook from analysts, who are closely watching Ascendis Pharma’s performance and regulatory progress.
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