Ascendis Pharma stock price target raised to $227 from $217 at BofA

Investing.com - BofA Securities raised its price target on Ascendis Pharma (NASDAQ:ASND) to $227.00 from $217.00 while maintaining a Buy rating following the company’s strong second-quarter results. The stock, currently trading at $190.35, has shown remarkable momentum with a 57.5% gain over the past six months and is currently trading near its 52-week high.

Ascendis reported second-quarter Yorvipath revenue of €103 million, significantly exceeding Street expectations of approximately €80 million. The company has seen continued momentum in U.S. adoption driven by broader hypoparathyroidism patients and improving payor coverage. According to InvestingPro data, the company maintains a healthy gross profit margin of 85.3% while operating with a moderate level of debt.

Management noted approximately 3,100 unique enrollments at the end of the second quarter, up from roughly 1,750 in the first quarter, which included about 200 from the expanded access program. The company expects to see steady addition of new patients with an acceleration of patients on paid drug in the second half as ex-U.S. reimbursement becomes available.

BofA has pulled forward its peak year projection by one year to 2032, with expected 35% penetration in the U.S. market and 20% in Europe. The firm now forecasts Yorvipath revenue of €499 million in 2025, €806 million in 2026, and €1.2 billion in 2027, representing significant increases from previous estimates.

BofA Securities reiterated Ascendis Pharma as one of its top picks for 2025 while maintaining its Buy rating on the stock. This aligns with the broader analyst consensus, as InvestingPro shows 6 analysts have recently revised their earnings expectations upward. For deeper insights into Ascendis Pharma’s valuation and growth prospects, subscribers can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

In other recent news, Ascendis Pharma reported a narrower-than-expected second-quarter loss and revenue that surpassed analyst estimates. The company posted a loss of EUR0.82 per share, significantly better than the anticipated EUR1.27 loss. Revenue surged to EUR158.05 million, exceeding the consensus estimate of EUR142.38 million and marking a 339% increase from EUR36.0 million in the same period last year. This performance was driven by strong sales of its Yorvipath and Skytrofa products.

Following these results, Evercore ISI raised its price target for Ascendis Pharma to $285 from $280, maintaining an Outperform rating. The firm noted a "clean beat" against high expectations, primarily due to Yorvipath’s strong performance. Similarly, Goldman Sachs increased its price target to $250 from $225, citing robust Yorvipath sales that exceeded consensus expectations and demonstrated sustained momentum. Both firms maintained positive ratings on the stock, reflecting confidence in Ascendis Pharma’s ongoing growth.

Ascendis Pharma stock price target raised to $227 from $217 at BofA

BofA Securities raised its price target on Ascendis Pharma (NASDAQ:ASND) to $227 from $217 while maintaining a Buy rating, citing strong second-quarter results. The company reported €103 million in revenue, exceeding expectations, and expects continued growth with a 2032 peak year projection. Analysts including Evercore ISI and Goldman Sachs also raised their price targets, reflecting confidence in the company's performance.