Ascendis Pharma (ASND) Rated as a Hold at Cannacord Genuity on Growth Hormone Prospects

Ascendis Pharma A/S (NASDAQ:ASND) is among the 12 best healthcare stocks to buy now. On June 10, Canaccord Genuity reiterated a Hold rating on the stock and an $84 price target. The stance follows the release of new clinical trial data.

A close-up of a researcher in a biopharmaceutical lab, carefully studying a sample.

The pharmaceutical company delivered solid 26-week efficacy results from its TransCon HGH+TransCon CNP COACH trial. Nevertheless, the research firm raised concerns over potential long-term side effects of the human Growth Hormone under investigation. The remarks reflect a cautious optimism while considering the broader competitive landscape and long-term implications.

Consequently, while the candidate treatment offers an additional growth acceleration option, it might not be a permanent replacement for CNP immunotherapy in achondroplasia patients. On its part, Ascendis Pharma insists that the combination treatment presents an alternative therapeutic choice that patients and caregivers can rely on. The US Food and Drug Administration has accepted the company’s New Drug Application for TransCon. The approval follows the treatment’s significant benefits in annualized growth velocity and health improvements in Children.

Ascendis Pharma A/S (NASDAQ:ASND) is a biopharma company focused on developing innovative treatments for unmet medical needs, especially in the fields of endocrinology and oncology. The company utilizes its proprietary TransCon technology platform to design therapies that aim to deliver improved outcomes and set new standards in care.

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