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On Friday, Evercore ISI analysts increased their price target on Ascendis Pharma (NASDAQ:ASND) shares, moving it up to $280 from the previous $260, while maintaining an Outperform rating. Currently trading at $167.47 and near its 52-week high of $173, the stock has demonstrated strong momentum with a 33.68% gain over the past six months. The adjustment follows a robust first quarter for the biopharmaceutical company, with significant prescription growth leading analysts to revise their estimates for the company’s products, including its peak U.S. Yorvi numbers.
The Evercore ISI analysts highlighted the company’s successful transition to paid drug conversions as a key factor in the strong quarterly performance. The company’s impressive 87.83% gross profit margin and 36.34% year-over-year revenue growth support this positive momentum. According to the analysts, the above-expectation revenue is a positive indicator of the company’s momentum. The new price target is supported by detailed Discounted Cash Flow (DCF) and multiple comparison analyses, suggesting confidence in the valuation. InvestingPro analysis reveals several additional key metrics and insights available to subscribers.
Looking forward to the second quarter, Evercore ISI anticipates an inflection point in revenue and profit and loss statements. While the company’s current market capitalization stands at $10.07 billion, analysts expressed optimism about Ascendis Pharma’s potential, citing the upcoming quarter as a critical period for the company to demonstrate continued financial growth and operational success. For deeper insights into Ascendis Pharma’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
Ascendis Pharma’s recent performance has solidified its position as a top pick for Evercore ISI. The firm’s analysts are closely monitoring the company’s progress and expect the second quarter to reveal even more about the company’s trajectory and financial health.
Investors and market watchers are now keenly awaiting Ascendis Pharma’s next quarterly report, which will provide further insights into the company’s performance and the impact of its strategic initiatives on its financial outcomes.
In other recent news, Ascendis Pharma has drawn attention with its recent financial and strategic developments. The company reported its fourth-quarter revenue for Skytrofa at €58 million, which was below the consensus estimate of €64 million. However, the launch of their product Yorvipath has been strong, with significant patient adoption. Analysts from RBC Capital Markets have initiated coverage with an Outperform rating and a price target of $205, highlighting Ascendis Pharma’s advantageous market position and potential for Yorvipath to achieve annual sales of €3 billion.
UBS has maintained its Buy rating with a $196 target, noting the expected acceleration in Yorvipath sales as reimbursement processes improve. Cantor Fitzgerald also adjusted its target to $200, citing impressive prescription numbers for Yorvipath as a key factor. Meanwhile, Evercore ISI increased its price target to $260, expressing confidence in Ascendis Pharma’s potential for significant value growth in 2025 and beyond.
TD Cowen raised its price target to $162, focusing on the company’s product lineup, including Skytrofa and Yorvipath. The firm anticipates continued growth and a strong regulatory pipeline, with upcoming filings and data releases expected to bolster the company’s market position. Overall, analysts have shown a positive outlook for Ascendis Pharma, driven by its product performance and strategic positioning.
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