Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - Goldman Sachs raised its price target on Ascendis Pharma (NASDAQ:ASND) to $250 from $225 while maintaining a Buy rating following the company’s second-quarter results. The stock, currently trading at $190.35, has surged 9.1% in the past week and is trading near its 52-week high, according to InvestingPro data.
The investment bank cited Ascendis Pharma’s strong Yorvipath sales, which exceeded consensus expectations and demonstrated sustained uptake momentum compared to previous updates. The company’s revenue grew 12.06% over the last twelve months, though InvestingPro analysis indicates the stock is currently trading above its Fair Value.
Goldman Sachs views Ascendis as one of the most attractive growth stories in small and mid-cap biotechnology, pointing to the company’s revenue trajectory that will soon be enhanced by the addition of a third product vertical.
The firm also highlighted Ascendis Pharma’s path to sustained profitability as a key factor in its positive outlook for the stock.
Goldman Sachs is monitoring upcoming competitor data on parathyroid hormone (PTH) as the next significant catalyst for the company.
In other recent news, Ascendis Pharma reported a narrower-than-expected loss for the second quarter, alongside revenue figures that surpassed analyst predictions. The company disclosed a loss of EUR0.82 per share, which was significantly better than the anticipated EUR1.27 loss per share estimated by analysts. Revenue for the quarter reached EUR158.05 million, exceeding the consensus estimate of EUR142.38 million. This represents a substantial increase of 339% from the EUR36.0 million recorded in the same period last year. The impressive revenue figures were primarily driven by strong sales of Ascendis Pharma’s products, YORVIPATH and SKYTROFA. These recent developments highlight the company’s performance in the second quarter, reflecting a positive trend in its financial results.
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