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ASND

Ascendis Pharma

$27.74

-1.55 (-5.29%)

, VSAR

Versartis

$21.60

-0.25 (-1.14%)

18:07
09/21/17
09/21
18:07
09/21/17
18:07

Ascendis spikes higher after Versartis Velocity trial fails to meet endpoint

Shares of Ascendis Pharma (ASND) are surging after competitor Versartis (VSAR) announced that its VELOCITY Phase 3 clinical trial of somavaratan, a novel, long-acting form of recombinant human growth hormone for growth hormone deficiency, did not meet its primary endpoint of non-inferiority. Ascendis Pharma develops various prodrug therapies to treat unmet medical needs. It is developing TransCon human growth hormone, which is in Phase III clinical study in children to treat growth hormone deficiency. Shares of Ascendis are up 44% to $39.77 while Versartis is plunging 83% to $3.60 per share in after-hours trading.

ASND

Ascendis Pharma

$27.74

-1.55 (-5.29%)

VSAR

Versartis

$21.60

-0.25 (-1.14%)

ASND Ascendis Pharma
$27.74

-1.55 (-5.29%)

03/09/17
LEER
03/09/17
DOWNGRADE
Target $30
LEER
Market Perform
Ascendis Pharma downgraded to Market Perform from Outperform at Leerink
Leerink analyst Joseph Schwartz downgraded Ascendis Pharma to Market Perform from Outperform saying the stock's growth spurt looks excessive given limited near-term catalysts. While the analyst continues to expect market entry in 2020 for the lead product, TransCon hGH, and incremental updates for the company's pre-clinical pipeline programs through 2017, he does not see strong reasons for such exuberance to continue over the near-term. Schwartz raised his price target on the shares to $30 from $24.
05/11/17
JPMS
05/11/17
INITIATION
Target $36
JPMS
Overweight
Ascendis Pharma initiated with an Overweight at JPMorgan
JPMorgan analyst Jessica Fye started Ascendis Pharma with an Overweight rating and $36 price target. The TransCon platform provides a "de-risked approach to developing long-acting therapeutics," the analyst writes.
05/11/17
05/11/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Methanex (MEOH) initiated with an Underperform at Bernstein. 2. PTC (PTC) initiated with an Outperform at Baird. 3. Pioneer Natural (PXD) assumed with an Overweight at Piper Jaffray. 4. Ascendis Pharma (ASND) initiated with an Overweight at JPMorgan. 5. Control4 (CTRL) initiated with a Hold at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/01/17
LEER
09/01/17
NO CHANGE
Target $28
LEER
Market Perform
Ascendis shares could move 20% on Versartis data, says Leerink
Leerink analyst Joseph Schwartz believes shares of Ascendis Pharma (ASND) could move up or down 20% on Versartis' (VSAR) somavaratan data in September. The data may have important read-through for Ascendis since it may indicate how much of the long-acting growth hormone market TransCon hGH will need to compete for. The analyst notes his base case scenario has Ascendis shares remaining flat or trading slightly down on somavaratan efficacy, which is "noninferior to daily Genotropin and safety which is acceptable." Schwartz reiterates a Market Perform rating on Ascendis with a $28 price target.
VSAR Versartis
$21.60

-0.25 (-1.14%)

05/05/17
05/05/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Snap (SNAP) initiated with a Buy at Cleveland Research. 2. Versartis (VSAR) initiated with an Overweight at Cantor. 3. Alder Biopharmaceuticals (ALDR) initiated with a Sell at UBS. 4. Playa Hotels & Resorts (PLYA) initiated with a Neutral at Citi. 5. Coherus Biosciences (CHRS) initiated with an Outperform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/27/17
PIPR
06/27/17
NO CHANGE
Target $26
PIPR
Overweight
Piper a buyer of Versartis ahead of September data
Piper Jaffray analyst Edward Tenthoff says he's a buyer of Versartis shares ahead of the Phase III Velocity data on somavartan in pediatric growth hormone deficiency expected in September. The analyst is "confident" somavaratan will meet the primary endpoint of non-inferior height velocity at 12 months based on Phase II Vista data that showed consistent HV out to three years. He reiterates an Overweight rating on the shares with a $26 price target.
09/08/17
PIPR
09/08/17
NO CHANGE
Target $26
PIPR
Overweight
Piper says own Versartis into Phase III data later this month
Piper Jaffray analyst Edward Tenthoff recommends owning shares of Versartis into the Phase III Velocity data on somavaratan in pediatric growth hormone deficiency due by the end of September. The analyst continues to expect somavaratan to demonstrate non-inferior height velocity within the 2cm lower confidence interval to daily growth hormone at one year. Even if somavaratan produces numerically lower height velocity to daily growth hormone, this would be a win since less frequent dosing should result in higher real-world compliance and growth, Tenthoff tells investors in a research note. He reiterates an Overweight rating on Versartis with a $26 price target.

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