Canaccord Genuity Initiates a Buy Rating on Ascendis Pharma (ASND)


In a report released yesterday, Michelle Gilson from Canaccord Genuity initiated coverage with a Buy rating on Ascendis Pharma (NASDAQ: ASND) and a price target of $81. The company’s shares opened today at $67.81.

Gilson wrote:

“We note the delay in ph.3 initiation does not materially impact our $81 PT for ASND shares, and we continue to view the program’s potential to restore and maintain normal physiological levels of PTH as an advantage in the HP market, given the effects in addressing both acute and long-term manifestations of disease.”

Gilson has an average return of 2.1% when recommending Ascendis Pharma.

According to TipRanks.com, Gilson is ranked #517 out of 4847 analysts.

Ascendis Pharma has an analyst consensus of Strong Buy, with a price target consensus of $78.75.

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Based on Ascendis Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $50.85 million. In comparison, last year the company had a GAAP net loss of $33.82 million.

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Ascendis Pharma A/S is a biopharmaceutical company, which engages in the development of drug candidates. Through its TransCon technology, it develops a pipeline of sustained release prodrug therapies including endocrinology product candidates to support the market.

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