JPMorgan remains positive on Ascendis after management meeting

After hosting an investor event with management, JPMorgan analyst Jessica Fye remains positive on shares of Ascendis Pharma. The analyst sees “multiple potential inflection points ahead,” including topline data from the Phase I SAD study for TransCon CNP in healthy volunteers in Q4, disclosure of the next therapeutic vertical in early 2019, and topline Phase III data for TransCon Growth Hormone in Q1 of 2019. Ascendis is experiencing a “multi-year evolution” as it transitions from a single product story to one with multiple orphan endocrine assets in the clinic and platform that will expand its existing orphan endocrine portfolio. Fye believes the company will “significant value” over time and keeps an Overweight rating on Ascendis Pharma.
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