Raymond James Starts Ascendis Pharma (ASND) at Strong Buy, PT $271, 'We see a high conviction path to a $4B+ top line'

Raymond James analyst Martin Auster initiates coverage on Ascendis Pharma (NASDAQ: ASND) with a Strong Buy rating and a price target of $271.00.

The analyst comments "We see a high conviction path to a $4B+ top line for Ascendis. We model 2035 total revenues of ~$4.6B — ~$3.3B for Yorvipath (TransCon PTH, hypoparathyroidism), ~$750M for TransCon CNP (achondroplasia), and ~$550M for Skytrofa — and see a range of credible upside scenarios to our base case PTH/ACH numbers over time on indication expansion and favorable competitive/commercial outcomes. A roughly 4-5x multiple on our base case revenue projections represents meaningful upside from current share prices, and we think commercial and competitive updates over the next ~12-24 months will provide clarity on our base case assumptions and the likelihood of achieving upside scenarios."

For an analyst ratings summary and ratings history on Ascendis Pharma click here. For more ratings news on Ascendis Pharma click here.

Shares of Ascendis Pharma closed at $207.12 yesterday.

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