RBC Capital has begun coverage on Ascendis Pharma (ASND, Financial), assigning an Outperform rating and setting a price target of $205. This comes as Ascendis Pharma's stock has recently outperformed the S&P Biotech ETF, represented by the ticker XBI. Despite this strong performance, RBC Capital sees further growth potential for the company.
The optimism stems from extensive consultations with multiple medical professionals, which suggest that Yorvipath, a product in Ascendis Pharma's pipeline, could become a EUR 3 billion asset. The company is positioned to leverage its first-mover advantage, as AstraZeneca (AZN) is not expected to offer a significantly differentiated product, and MBXBiosciences (MBX) is notably trailing behind in development.
Ascendis Pharma's strategic position and potential market impact are central to RBC Capital's positive outlook, providing a promising outlook for investors considering the stock.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 15 analysts, the average target price for Ascendis Pharma AS (ASND, Financial) is $215.13 with a high estimate of $299.39 and a low estimate of $167.83. The average target implies an upside of 39.77% from the current price of $153.92. More detailed estimate data can be found on the Ascendis Pharma AS (ASND) Forecast page.
Based on the consensus recommendation from 16 brokerage firms, Ascendis Pharma AS's (ASND, Financial) average brokerage recommendation is currently 1.6, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Ascendis Pharma AS (ASND, Financial) in one year is $662.06, suggesting a upside of 330.13% from the current price of $153.92. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Ascendis Pharma AS (ASND) Summary page.
