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ASND

Ascendis Pharma

$27.74

-1.55 (-5.29%)

, VSAR

Versartis

$21.60

-0.25 (-1.14%)

05:27
09/22/17
09/22
05:27
09/22/17
05:27

Versartis failure bodes well for Ascendis Pharma, says Wells Fargo

Wells Fargo analyst Jim Birchenough reiterates an Outperform rating on Ascendis Pharma (ASND) after its competitor Versartis (VSAR) announced last night that its long-acting recombinant human growth hormone, somavaratan, failed to meet the primary endpoint of non-inferiority in a Phase 3 study in pediatric growth hormone deficiency. The analyst continues to see a "high likelihood of success" for Ascendis Pharma's unmodified TransCon GH, which he says appears superior to both somavaratan and short acting growth hormone. Birchenough has a $51 price target on Ascendis shares. The stock last night in after-hours trading jumped 42%, or $11.66, to $39.40.

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%)

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.
09/22/17
PIPR
09/22/17
DOWNGRADE
Target $4
PIPR
Neutral
Versartis downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff downgraded Versartis to Neutral citing an uncertain future for somavaratan after the Phase III Velocity trial patients missed non-inferior height velocity. Should Versartis conduct another Phase III pediatric growth hormone deficiency trial, the analyst expects delayed approval timelines by at least two years. He cut his price target for the shares to $4 from $26.
09/22/17
LEHM
09/22/17
DOWNGRADE
Target $4
LEHM
Underweight
Versartis downgraded to Underweight from Overweight at Barclays
Barclays analyst Geoff Meacham double downgraded Versartis to Underweight from Overweight and cut his price target for the shares to $4 from $28 after the Phase 3 Velocity trial of somavaratan missed its primary endpoint. The analyst does not see a path forward for the pediatric program and sees minimal residual value to the adult program. Piper Jafray this morning also downgraded Versartis.

TODAY'S FREE FLY STORIES

AGEN

Agenus

$4.71

0.04 (0.86%)

, ADRO

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$9.55

-0.1 (-1.04%)

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TSM

TSMC

$41.06

-0.445 (-1.07%)

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AAPL

Apple

$159.76

-0.71 (-0.44%)

, AXP

American Express

$91.42

-0.6599 (-0.72%)

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AAPL

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$159.76

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AXP

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VZ

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$49.81

1.16 (2.38%)

TRV

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$130.89

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PM

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ADBE

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EBAY

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CRBP

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UAL

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$60.75

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AAL

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$52.03

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DAL

Delta Air Lines

$51.75

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COTY

Coty

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-0.105 (-0.67%)

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$NSD

NASDAQ Market Internals

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FB

Facebook

$176.03

-0.08 (-0.05%)

, AAPL

Apple

$159.76

-0.71 (-0.44%)

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Facebook

$176.03

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AAPL

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$NYE

NYSE Market Internals

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PYPL

PayPal

$67.26

0.59 (0.88%)

, VNTV

Vantiv

$68.99

0.03 (0.04%)

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$67.26

0.59 (0.88%)

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MSFT

Microsoft

$77.61

0.02 (0.03%)

MA

MasterCard

$145.45

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GM

General Motors

$45.12

-0.0049 (-0.01%)

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UAL

United Continental

$60.70

-7.29 (-10.72%)

, AAL

American Airlines

$52.03

-0.04 (-0.08%)

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UAL

United Continental

$60.70

-7.29 (-10.72%)

AAL

American Airlines

$52.03

-0.04 (-0.08%)

DAL

Delta Air Lines

$51.50

-1.36 (-2.57%)

ALK

Alaska Air

$77.56

-2.875 (-3.57%)

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MLM

Martin Marietta

$208.03

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GS

Goldman Sachs

$238.50

-3.53 (-1.46%)

, MS

Morgan Stanley

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MS

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MFG

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UN

Unilever; also tag UL

$58.03

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UL

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BX

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$34.36

0.8742 (2.61%)

KKR

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$20.25

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APO

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$31.71

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XPO

XPO Logistics

$64.45

-0.31 (-0.48%)

12:01
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  • 02

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SCSS

Select Comfort

$32.08

1.7 (5.60%)

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UAL

United Continental

$61.63

-6.36 (-9.35%)

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  • 19

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BX

Blackstone

$34.33

0.835 (2.49%)

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QCOM

Qualcomm

$52.21

-0.2 (-0.38%)

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  • 01

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FIZZ

National Beverage

$97.74

0.15 (0.15%)

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National Beverage attributes volatility to 'falsehoods' and 'rumors' »

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WPM

Wheaton Precious Metals

$20.59

0.586 (2.93%)

11:45
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  • 10

    Nov

BA

Boeing

$258.00

-2.04 (-0.78%)

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  • 25

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AEM

Agnico Eagle

$45.12

0.3 (0.67%)

11:35
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Agnico Eagle put volume heavy and directionally bearish »

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BX

Blackstone

$34.12

0.6261 (1.87%)

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LAKE

Lakeland Industries

$15.80

0.4 (2.60%)

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Conference/Events
Lakeland Industries management to meet with Roth Capital »

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