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BofA Reiterates Buy Rating on Ascendis Pharma (ASND) While Wells Fargo Analyst Raises PT

Ascendis Pharma A/S (NASDAQ:ASND) is one of the 11 Best Stocks to Buy for Investment.

On January 27, BofA reiterated a Buy rating on Ascendis Pharma A/S (NASDAQ:ASND). Tazeen Ahmad at BofA retained the rating on ASND and maintained the price target at $246.

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In other news, on January 20, TheFly reported that Wells Fargo analyst Derek Archila upgraded the price target on Ascendis Pharma from $322 to $330, keeping an Overweight rating on the stock. Archila noted Ascendis Pharma’s €500 million operating cash flow guidance, excluding TransCon CNP, implying €1.1- €1.2 billion for Yorvipath. The analyst said this is in line with the company’s forecast of €40 million to €50 million in quarter-over-quarter revenue growth.

Archila believes that the TransCon CNP with the Skytrofa combo will potentially become the standard of care over time, representing upside for the company. Skytrofa is being used for the treatment of pediatric growth hormone deficiency, while TransCon is being developed for achondroplasia.

Ascendis Pharma A/S (NASDAQ:ASND) is a biopharmaceutical firm developing TransCon-based therapies to address unmet medical needs worldwide.

While we acknowledge the potential of ASND to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ASND and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best New Penny Stocks to Invest In and 13 Best Gold Mining Companies to Invest In Now.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

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Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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