Ultime notizie per Ascendis Pharma (NASDAQ:ASND) Azioni

Ascendis Pharma

Ascendis Pharma AS is a biopharmaceutical company. It develops prodrug therapies with profiles to address large markets with unmet medical needs with its Transcon technology. The firm's product pipeline includes Transcon growth hormone, Transconpeptides, Transcon PTH, Transcon CNP, and others. It operates in North America, China, and Europe and derives the majority of its revenue from North America.

Ascendis Pharma A/S - American Depositary Shares

Ascendis Pharma AS

Biotech

News

General

ASND

Ascendis Pharma Presents 3-Year Data At ASBMR 2024 Showing Long-Term Treatment With TransCon PTH Normalizes Bone Remodeling In Adults With Hypoparathyroidism

Ascendis Pharma's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NYSE">ASND</a>) short percent of float has fallen 10.56% since its last report. The company recently reported that it has 3.34 million shares sold short, which is 7.88% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.86 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Ascendis Pharma Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727362821_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Ascendis Pharma has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Ascendis Pharma's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Ascendis Pharma's peer group average for short interest as a percentage of float is 5.70%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Looking Into Ascendis Pharma's Recent Short Interest

Last week, Ascendis Pharma A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) released topline data on Monday from a trial that included 84 children with achondroplasia, a genetic disorder that causes dwarfism and&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40882593/ascendis-pharmas-rare-dwarfism-candidate-shows-promise-in-trial-fda-submission-expected-next-year" rel="noreferrer noopener">disproportionate short stature</a>.
Goldman Sachs hosted an investor meeting with BioMarin Pharmaceutical Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) Alexander Hardy (President and CEO) and Brian Mueller (EVP, CFO).
They reiterated financial guidance after reviewing their assumptions around Voxzogo competition post-Ascendis Pharma's better-than-expected Phase 3 achondroplasia data.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40200109/rare-disease-focused-biomarin-narrows-sales-focus-cuts-cost-for-hemophilia-a-gene-t" rel="noreferrer noopener">Rare Disease-Focused BioMarin Narrows Sales Focus, Cuts Cost For Hemophilia A Gene Therapy; Lifts Annual Guidance</a>.
The analyst notes that management believes a U.S./EU launch by Ascendis Pharma could violate its C-type natriuretic <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40885653/despite-being-first-mover-biomarins-voxzogo-for-dwarfism-to-face-pressure-from-asce" rel="noreferrer noopener">peptide (CNP) patents</a>.
However, excluding this concern, the company still expects to reach approximately $4 billion in total revenue for fiscal year 2027, driven by growing Voxzogo adoption in the U.S., aided by its broad label without lower age restrictions, which could provide a competitive edge over Ascendis Pharma.
The company is targeting an adjusted operating margin of low-to-mid 40% (starting at 40% in 2026).
The new structure, announced at an investor event,&nbsp;<a target="_blank" href="https://investorday.biomarin.com/static-files/95c517e2-36ee-4427-9278-2d87cc4c1460" rel="noreferrer noopener">covers</a> three key business units: skeletal conditions, enzyme therapies, and Roctavian—its <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40731810/biomarin-restructures-outlines-roadmap-to-4b-revenues-by-2027" rel="noreferrer noopener">hemophilia A gene therapy</a>.
BioMarin has been implementing a $500 million "cost transformation program"&nbsp;to contribute to non-GAAP operating margin targets set for 2026 and beyond.
Goldman Analyst writes, "We also see external business development as a potential source of upside and diversification beyond BioMarin's guidance. Nonetheless, we note continued investor debate on the outlook given increasing competitive pressure on BioMarin's key growth driver."
The analyst maintains a Buy rating with a <a target="_blank" href="https://www.benzinga.com/quote/BMRN/analyst-ratings" rel="noreferrer noopener">price target of $139</a>.
Price Action: BMRN stock is down 0.57% at $69.09 at the last check on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41029168/meta-connect-leaks-reveal-affordable-quest-3s-batman-game-bundle-report" target="_blank" rel="noreferrer noopener">Meta Connect Leaks Reveal Affordable Quest 3S, Batman Game Bundle: Report</a>.</li>
</ul>

Analyst Color

Large Cap

Health Care

Analyst Ratings

BMRN

BioMarin Stands Firm on 2027 Revenue Target Amid Ascendis Competition, Goldman Sachs Analyst Remains Bullish

Ascendis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) has outperformed the market over the past 10 years by 42.38% on an annualized basis producing an average annual return of 53.62%. Currently, Ascendis Pharma has a market capitalization of $8.60 billion. 
Buying $100 In ASND: If an investor had bought $100 of ASND stock 10 years ago, it would be worth $6,965.87 today based on a price of $144.89 for ASND at the time of writing.
<h3>Ascendis Pharma's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727213417_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Ascendis Pharma Stock In The Last 10 Years

B of A Securities analyst Tazeen Ahmad maintains Ascendis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) with a Buy and raises the price target from $175 to $191.

Price Target

B of A Securities Maintains Buy on Ascendis Pharma, Raises Price Target to $191

This week, the Federal Reserve's decision to reduce interest rates by 50 basis points boosted share prices across the technology, construction, <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p" rel="noreferrer noopener">industrial, machinery, and financial sectors</a>.
These seven mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Edgewise Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWTX#NASDAQ">EWTX</a>) shares rocketed 50.19% after the company announced topline data of EDG-7500 from the Phase 1 trial in healthy subjects and the single-dose arm of the Phase 2 CIRRUS-<a href="https://www.benzinga.com//node/40940696" target="_blank" rel="noreferrer noopener">HCM trial in patients with obstructive HCM</a>.</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) stock gained 28.36% after <a href="https://www.benzinga.com//node/40884021" target="_blank" rel="noreferrer noopener">reportedly considering a sale</a>.</li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) shares upped 27.06%. The company's subsidiary Bausch + Lomb Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) <a href="https://www.benzinga.com//node/40884021" target="_blank" rel="noreferrer noopener">is reportedly considering a sale</a>.</li>
<li>Ascendis Pharma A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) stock gained 26.87% last week after the company announced <a href="https://www.benzinga.com//node/40882593" target="_blank" rel="noreferrer noopener">topline data from</a> its pivotal approach trial of a rare dwarfism candidate.</li>
<li>Nuvalent Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUVL#NASDAQ">NUVL</a>) stock gained 23.50% after the company <a href="https://www.benzinga.com//node/40865049" target="_blank" rel="noreferrer noopener">highlighted results for its ROS1 and ALK-Positive NSCLC programs</a> and accelerated its development timeline. The company also announced a $350 million public offering, and multiple firms raised their respective <a href="https://www.benzinga.com/quote/nuvl/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) stock gained 22.61% last week as stocks in the broader industrial space jumped following the Fed's announcement to cut rates by 50 basis points, which could support investment and economic growth.</li>
<li>GDS Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) shares jumped 21.28%.</li>
</ol>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40972008/constellation-energy-li-auto-and-carvana-are-among-top-11-large-cap-gainers-last-week-sept-16-sept" target="_blank" rel="noreferrer noopener">Constellation Energy, Li Auto And Carvana Are Among Top 11 Large Cap Gainers Last Week (Sept 16-Sept 20): Are The Others In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40972060/novo-nordisk-chewy-and-fedex-are-among-top-10-large-cap-losers-last-week-sept-15-sept-21-are-the-o" target="_blank" rel="noreferrer noopener">Novo Nordisk, Chewy And FedEx Are Among Top 10 Large Cap Losers Last Week (Sept 15-Sept 21): Are The Others In Your Portfolio?</a></li>
</ul>
Photo by JHVEPhoto via Shutterstock

Mid Cap

Movers

BLCO

EWTX

NUVL

POWL

Bausch & Lomb And Edgewise Therapeutics Are Among Top 7 Mid Cap Stock Gainers Last Week (Sept 15-Sept 21): Are The Others In Your Portfolio?

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) stock declined 23.61%. The company announced that data for the novel, potential first-in-class investigational bispecific antibody, ivonescimab, was presented <a href="https://www.benzinga.com//node/40873837" target="_blank" rel="noreferrer noopener">at the 2024 ESMO Annual Meeting</a>.</li>
<li>Joint Stock Company Kaspi.kz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KSPI#NASDAQ">KSPI</a>) stock tumbled 21.66% after Culper Research <a href="https://www.benzinga.com//node/40943334" target="_blank" rel="noreferrer noopener">issued a short report on the company</a>.</li>
<li>BioMarin Pharmaceutical Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) stock lost 16.74% last week <a href="https://www.benzinga.com//node/40885653" target="_blank" rel="noreferrer noopener">following strong dwarfism drug data</a> from rival Ascendis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>).</li>
<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) lost 13.26% <a href="https://www.benzinga.com//node/40961732" target="_blank" rel="noreferrer noopener">last week</a>.</li>
<li>FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) stock fell 11.08% after the company reported worse-than-expected Q1 financial results and <a href="https://www.benzinga.com//node/40948046" target="_blank" rel="noreferrer noopener">cut FY25 guidance</a>.</li>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) stock decreased 9.01%. Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and BioNTech received positive CHMP opinion for omicron KP.2-adapted <a href="https://www.benzinga.com//node/40956192" target="_blank" rel="noreferrer noopener">COVID-19 vaccine in the European Union</a>.</li>
<li>Arthur J. Gallagher &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) stock fell 7.17%. Several analysts raised <a href="https://www.benzinga.com/quote/ajg/analyst-ratings" target="_blank" rel="noreferrer noopener">the price target on the stock</a>.</li>
<li>Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) shares declined 6.97% after the company announced a selling stockholder&#8217;s public offering of shares <a href="https://www.benzinga.com//node/40949015" target="_blank" rel="noreferrer noopener">and a concurrent share repurchase</a>.</li>
<li>Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) stock fell 6.93% after <a href="https://www.benzinga.com//node/40961934" target="_blank" rel="noreferrer noopener">headline results from the mid-stage study</a> of monlunabant in obese patients.</li>
<li>Murphy USA Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>) shares fell 6.90% after JP Morgan downgraded the stock from Neutral to Underweight but raised its <a href="https://www.benzinga.com/quote/musa/analyst-ratings" target="_blank" rel="noreferrer noopener">price target from $415 to $435</a>.</li>
</ol>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40972008/constellation-energy-li-auto-and-carvana-are-among-top-11-large-cap-gainers-last-week-sept-16-sept" target="_blank" rel="noreferrer noopener">Constellation Energy, Li Auto And Carvana Are Among Top 11 Large Cap Gainers Last Week (Sept 16-Sept 20): Are The Others In Your Portfolio?</a></li>
</ul>
Photo via Shutterstock

BNTX

CHWY

KSPI

MUSA

RIVN

SMMT

Novo Nordisk, Chewy And FedEx Are Among Top 10 Large Cap Losers Last Week (Sept 15-Sept 21): Are The Others In Your Portfolio?

Ascendis estimates the net proceeds from the offering will be approximately&nbsp;$281.3 million&nbsp;(assuming no exercise of the underwriters&#39; option to purchase additional ADSs), after deducting the underwriting commissions and estimated offering expenses. Ascendis intends to use the net proceeds of the offering to support the commercial preparations, launch and commercial activities, clinical development and regulatory approvals for its products and product candidates, and for working capital and general corporate purposes.

Reported Earlier, Ascendis Pharma Prices $281.3M Public Offering Of 2M ADSs At $150/ADS

All of the ADSs are being offered by Ascendis. In addition, Ascendis expects to grant the underwriters a 30-day option to purchase up to an additional&nbsp;$45 million of ADSs at the public offering price, less the underwriting commissions.&nbsp;

Offerings

Ascendis Pharma Commences Public Offering Of $300M Of ADSs

Wells Fargo analyst Derek Archila maintains Ascendis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) with a Overweight and raises the price target from $264 to $289.

Wells Fargo Maintains Overweight on Ascendis Pharma, Raises Price Target to $289

Citigroup analyst David Lebowitz maintains Ascendis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) with a Buy and raises the price target from $178 to $207.

Citigroup Maintains Buy on Ascendis Pharma, Raises Price Target to $207

Evercore ISI Group analyst Josh Schimmer maintains Ascendis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) with a Outperform and raises the price target from $191 to $205.

Evercore ISI Group Maintains Outperform on Ascendis Pharma, Raises Price Target to $205

Oppenheimer analyst Leland Gershell reiterates Ascendis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) with a Outperform and raises the price target from $180 to $190.

Reiteration

Oppenheimer Reiterates Outperform on Ascendis Pharma, Raises Price Target to $190

Goldman Sachs analyst Paul Choi maintains Ascendis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) with a Buy and raises the price target from $180 to $200.

Goldman Sachs Maintains Buy on Ascendis Pharma, Raises Price Target to $200

Ascendis Pharma A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>)&nbsp;released topline data on Monday from a trial that included 84 children with achondroplasia, a genetic disorder that causes dwarfism and&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40882593/ascendis-pharmas-rare-dwarfism-candidate-shows-promise-in-trial-fda-submission-expected-next-year" rel="noreferrer noopener">disproportionate short stature</a>.
In the trial, children treated with once-weekly TransCon CNP demonstrated annualized growth velocity (AGV) superior to placebo.
BioMarin Pharmaceutical Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) stock is trading lower in reaction to the data <a href="https://www.benzinga.com/general/biotech/22/11/29694519/ascendis-pharmas-program-hits-primary-goal-in-children-with-short-limbed-dwarfism" target="_blank" rel="noreferrer noopener">from rival Ascendis</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40707614/rare-disease-focused-ascendis-pharma-stock-falls-on-underwhelming-q2-earnings-guidance-cut" rel="noreferrer noopener">Rare Disease-Focused Ascendis Pharma Stock Falls On Underwhelming Q2 Earnings, Guidance Cut</a>.
William Blair notes that the efficacy of TransCon CNP is comparable to BioMarin&#8217;s Voxzogo (vosoritide), which is approved for promoting linear growth in children with achondroplasia and open growth plates (epiphyses).
Early data indicates that TransCon CNP could challenge Voxzogo&#8217;s market share by late 2025. Moreover, Ascendis&#8217; TransCon CNP stands out due to its once-weekly dosing schedule and potentially improved safety profile, making it a more appealing option.
The analyst adds, &#8220;We think Ascendis&#8217;s freedom to operate is still unclear given it may be at risk of infringing on BioMarin&#8217;s long-acting CNP patent portfolio, which could restrict Ascendis&#8217; launch or at the very least result in royalties to BioMarin.&#8221;
The William Blair analyst emphasizes BioMarin&#8217;s first-mover advantage, noting that the company is actively conducting additional trials to broaden Voxzogo&#8217;s label.
BioMarin also plans to submit an investigational new drug application for its long-acting CNP in the fourth quarter of 2024. However, competition from TransCon CNP is expected to place continued pressure on Voxzogo&#8217;s market share, which may weigh on the stock in the near future.
Earlier this month, BioMarin&nbsp;announced its&nbsp;plans to land $4 billion in&nbsp;revenue by 2027 and target an adjusted operating margin of <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40731810/biomarin-restructures-outlines-roadmap-to-4b-revenues-by-2027" rel="noreferrer noopener">low-to-mid 40</a> percent.
Price Action: BMRN stock is down 17.70% at $69.86 at the last check on Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/09/40881407/back-to-back-fda-approvals-for-roches-two-under-the-skin-injections" target="_blank" rel="noreferrer noopener">Back-To-Back FDA Approvals For Roche&#8217;s Two Under-The-Skin Injections</a>.</li>
</ul>

Despite Being First Mover, BioMarin's Voxzogo For Dwarfism To Face Pressure From Ascendis' Candidate In Near Term

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling around 1% on Monday.
The Dow traded up 0.29% to 41,512.19 while the NASDAQ fell 0.96% to 17,514.54. The S&amp;P 500 also fell, dropping, 0.24% to 5,612.35.
Check This Out: <a href="https://www.benzinga.com/24/09/40876800/this-analyst-with-86-accuracy-rate-sees-around-9-upside-in-rh-here-are-5-stock-picks-for-last-week-f">This Analyst With 86% Accuracy Rate Sees Around 9% Upside In RH &#8211; Here Are 5 Stock Picks For Last Week From Wall Street&#8217;s Most Accurate Analysts</a>
Leading and Lagging Sectors Energy shares jumped by 1.1% on Monday.
In trading on Monday, information technology shares fell by 0.9%.
Top Headline
The NY Empire State Manufacturing Index rose to 11.5 in September, recording the highest level since April 2022, versus -4.7 in August and market estimates of -3.9.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>NuCana plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNA#NASDAQ">NCNA</a>) shares shot up 151% to $6.36 after the company announced final data from the Phase 2 NuTide:701 study at the ESMO Congress on NUC-7738 in combination with pembrolizumab for patients with metastatic melanoma who were refractory to or had relapsed on prior PD-1 inhibitor therapy.</li>
<li>Shares of Ascendis Pharma A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) got a boost, surging 17% to $139.84 after the company announced topline data from its pivotal approach trial of Transcon CNP (Navepegritide).</li>
<li>Nuvalent, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUVL#NASDAQ">NUVL</a>) shares were also up, gaining 28% to $111.60 after the company highlighted results for its ROS1 and ALK-Positive NSCLC programs and accelerated its development timeline. Also, the company announced a $350 million public offering and multiple firms raised their respective price targets on the stock.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Instil Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIL#NASDAQ">TIL</a>) shares dropped 25% to $63.50. The company announced the global registrational strategy for the PD-L1xVEGF bispecific antibody SYN-2510/IMM2510 in combination with chemotherapy in front-line non-small cell lung cancer and in front-line triple-negative breast cancer.</li>
<li>Shares of Sterling Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBT#NASDAQ">SBT</a>) were down 17% to $4.7723 after the company announced the sale of Sterling Bank and Trust F.S.B. to EverBank Financial Corp. Also, the company adopted a plan of dissolution and expects to wind down as quickly as possible after the sale.</li>
<li>iTeos Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITOS#NASDAQ">ITOS</a>) was down, falling 20% to $13.44. The company announced follow-up interim data from GALAXIES Lung-201,</li>
</ul>
Commodities In commodity news, oil traded up 1.4% to $69.66 while gold traded up 0.2% at $2,616.10.
Silver traded up 0.8% to $31.325 on Monday, while copper rose 1.1% to $4.2840.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 fell 0.21%, Germany's DAX fell 0.42% and France's CAC 40 fell 0.22%. Spain's IBEX 35 Index rose 0.07%, while London's FTSE 100 fell 0.06%.
The Eurozone recorded a trade surplus of EUR 21.2 billion in July, higher than market estimates of EUR 14.9 billion. Wages in the Eurozone increased 4.5% year-over-year in the second quarter, while hourly labor costs climbed by 4.7% year-over-year in the quarter. Italy reported a trade surplus of EUR 6.743 billion in July versus a year-ago surplus of EUR 6.108 billion.
Asia Pacific Markets
Asian markets closed mostly higher on Monday, with Hong Kong's Hang Seng Index gaining 0.31% and India's BSE Sensex gaining 0.12%.
Total passenger vehicle sales in India declined 1.6% year-over-year to 308,779 in August versus a 1.9% decline in the prior month.
Economics
The NY Empire State Manufacturing Index rose to 11.5 in September, recording the highest level since April 2022, versus -4.7 in August and market estimates of -3.9. 
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40876798/how-to-earn-500-a-month-from-sunoco-stock">How To Earn $500 A Month From Sunoco Stock</a></li>
</ul>

Equities

Eurozone

Commodities

Intraday Update

Markets

ITOS

NCNA

Crude Oil Surges Over 1%; Instil Bio Shares Plunge

Ascendis Pharma A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) released topline data on Monday from a trial that included 84 children with achondroplasia, a genetic disorder that causes dwarfism and <a href="https://www.benzinga.com/pressreleases/24/09/g40874228/pivotal-approach-trial-of-transcon-cnp-navepegritide-achieved-primary-objective-demonstrated-agv-s" target="_blank" rel="noreferrer noopener">disproportionate short stature</a>.
TransCon CNP (navepegritide), an investigational prodrug of C-type natriuretic peptide (CNP) administered once weekly and designed to provide sustained release and continuous exposure of active CNP.
CNP regulates blood flow, blood pressure, and the reactivity of platelets and leukocytes.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40719630/ascendis-pharma-faces-challenges-with-skytrofa-and-yorvipath-pricing-analysts-weigh" rel="noreferrer noopener">Ascendis Pharma Faces Challenges With Skytrofa And Yorvipath Pricing: Analysts Weigh In</a>.
In the trial, children treated with once-weekly TransCon CNP demonstrated annualized growth velocity (AGV) superior to placebo.
<ul>
<li>For the primary endpoint of AGV at Week 52, children treated with TransCon CNP (n=57) demonstrated an LS mean AGV of 5.89 cm/year compared to 4.41 cm/year in the placebo arm (n=27), an LS mean difference of 1.49 cm/year (p&lt;0.0001).</li>
</ul>
Sub-group analyses:
<ul>
<li>Children aged 2 to &lt;5 years treated with TransCon CNP (n=21) demonstrated an LS mean AGV at Week 52 of 6.07 cm/year compared to 5.06 cm/year in the placebo arm.</li>
<li>Children aged 5-11 treated with TransCon CNP (n=36) demonstrated an LS mean AGV of 5.79 cm/year at Week 52, compared to 4.02 cm/year in the placebo arm.</li>
<li>Children aged 2 to &lt;5 years treated with TransCon CNP (n=19) demonstrated a change from baseline AGV at Week 52 of 1.57 cm/year compared to 0.43 cm/year in the placebo arm.</li>
<li>Children aged 5-11 treated with TransCon CNP (n=35) demonstrated a 2.29 cm/year change from baseline AGV at Week 52 compared to 0.52 cm/year in the placebo arm.</li>
</ul>
For the secondary endpoint of change in ACH Height Z-score, children treated with TransCon CNP (n=57) demonstrated an LS mean change from baseline ACH Height Z-score of 0.30 compared to 0.01 in the placebo arm.
For the secondary endpoint of change in CDC Height Z-score, children treated with TransCon CNP (n=55) demonstrated an LS mean change from baseline CDC Height Z-score of 0.15 compared to -0.15 in the placebo arm.
In the total trial population, treatment with TransCon CNP resulted in numerical improvements in health-related quality of life compared to placebo as measured in several Achondroplasia Child Experience Measure (ACEM) domains.
TransCon CNP continues to show a safety profile comparable to placebo and was generally well-tolerated, with generally mild treatment-emergent adverse events (TEAEs), no evidence of hypotensive effect, and a low frequency of injection site reactions, all mild.
Ascendis plans to submit an FDA marketing application for TransCon CNP for achondroplasia during the first quarter of 2025 and a European application during the third quarter of 2025.
Price Action: ASND stock is up 17.4% at $140 at last check Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40879208/crowdstrike-amazon-and-nvidia-team-up-to-empower-cybersecurity-startups" target="_blank" rel="noreferrer noopener">CrowdStrike, Amazon, And NVIDIA Team Up To Empower Cybersecurity Startups</a>.</li>
</ul>

Ascendis Pharma's Rare Dwarfism Candidate Shows Promise In Trial, FDA Submission Expected Next Year

U.S. stocks were mixed, with the Dow Jones index gaining around 200 points on Monday.
Shares of Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) rose sharply during Monday's session after the company agreed to sell its 25.1% joint venture stake in Ma&#8217;aden for $1.1 billion, including $950 million <a href="https://www.benzinga.com/markets/equities/24/09/40873786/alcoa-pockets-1-1b-from-saudi-joint-venture-sale-details">in Ma&#8217;aden shares.</a>
Alcoa shares jumped 6.5% to $34.63 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Ascendis Pharma A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) shares jumped 19.8% to $142.76 after the company announced topline data from its pivotal approach trial of Transcon CNP (Navepegritide).</li>
<li>Bausch + Lomb Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NASDAQ">BLCO</a>) shares gained 15% to $17.86. Needham reiterated a Hold rating on Bausch &amp; Lomb.</li>
<li>Nuvalent, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUVL#NASDAQ">NUVL</a>) climbed 12.8% to $98.70 after the company highlighted results for its ROS1 and ALK-Positive NSCLC programs and accelerated its development timeline. Also, the company announced a $350 million public offering and multiple firms raised their respective price targets on the stock.</li>
<li>Fitell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEL#NASDAQ">FTEL</a>) gained 12.5% to $17.75.</li>
<li>JBDI Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBDI#NASDAQ">JBDI</a>) jumped 11.1% to $29.38.</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) surged 10.3% to $49.46. Lattice Semiconductor appointed Ford Tamer as CEO, effective immediately.</li>
<li>EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) rose 8.4% to $26.33. Morgan Stanley, on Friday, raised its price target on the stock from $14 to $20.</li>
<li>Stratasys Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSYS#NASDAQ">SSYS</a>) rose 7.9% to $7.61 after the company authorized a share repurchase program of up to $50 million.</li>
<li>Corvus Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRVS#NASDAQ">CRVS</a>) gained 7.5% to $5.48. The announced it initiated the registrational Phase 3 clinical trial of Soquelitinib for patients with relapsed or refractory peripheral T-cell lymphoma.</li>
<li>Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) rose 6.3% to $13.57.</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) rose 5.5% to $3.1650.</li>
<li>Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) gained 4.2% to $106.42. Evercore ISI Group analyst Michael Morris upgraded Sprouts Farmers Market from In-Line to Outperform and raised the price target from $96 to $120.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/24/09/40876800/this-analyst-with-86-accuracy-rate-sees-around-9-upside-in-rh-here-are-5-stock-picks-for-last-week-f"> </a>
<ul>
<li><a href="https://www.benzinga.com/24/09/40876800/this-analyst-with-86-accuracy-rate-sees-around-9-upside-in-rh-here-are-5-stock-picks-for-last-week-f">This Analyst With 86% Accuracy Rate Sees Around 9% Upside In RH &#8211; Here Are 5 Stock Picks For Last Week From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>

CRVS

FTEL

JBDI

LSCC

SATS

SSYS

VSAT

Alcoa, Lattice Semiconductor, Stratasys And Other Big Stocks Moving Higher On Monday

WIIM

Ascendis Pharma shares are trading higher after the company announced topline data from its pivotal approach trial of Transcon CNP (Navepegritide).

Cantor Fitzgerald analyst Li Watsek reiterates Ascendis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) with a Overweight and maintains $170 price target.

Cantor Fitzgerald Reiterates Overweight on Ascendis Pharma, Maintains $170 Price Target

In a report released today, Vikram Purohit from Morgan Stanley maintained a Hold rating on Ascendis Pharma (ASND – Research Report), with a price t...

Morgan Stanley Keeps Their Hold Rating on Ascendis Pharma (ASND)

Janus Henderson Global Life Sciences Diversified ADR Managed Account Q2 2024 Commentary

Ascendis Pharma (ASND) has released an update. Ascendis Pharma A/S, a Danish biopharmaceutical company, has entered into an underwriting agreement ...

Ascendis Pharma Announces Major ADS Offering

Citi's 'Catalyst Watch' list of U.S. stocks for crowding analysis

Biotech companies could gain the financial flexibility to accelerate their innovations with the Fed's recent rate cut. To capitalize on this opportunity, consider investing in fundamentally sound biotech stocks Biogen (BIIB), Royalty Pharma (RPRX), and BioMarin Pharmaceutical (BMRN), that are poised to skyrocket. Learn more... The biotech industry is experiencing significant growth as it continues to innovate in medicine and life sciences. With rising demand for therapeutics and new treatments targeting several complex diseases such as cancer, Alzheimer's, and rare genetic disorders, the sector is buzzing with potential.
Amid this backdrop, investors looking to gain from this momentum could scoop up the shares of fundamentally sound biotech companies like Biogen Inc. (<a href="https://stocknews.com/stock/BIIB/">BIIB</a>), BioMarin Pharmaceutical Inc. (<a href="https://stocknews.com/stock/BMRN/">BMRN</a>), and Royalty Pharma plc (<a href="https://stocknews.com/stock/RPRX/">RPRX</a>) with promising upside potential.
Analysts believe the Federal Reserve's recent rate cuts could further boost the biotech sector. John Maraganore, former CEO of Alnylam Pharmaceuticals, emphasized that the cut "will be very positive for the biotech capital markets," predicting a meaningful uptick in the sector as rates decline. Lower rates mean reduced borrowing costs, allowing biotech firms to raise more capital for their research and development (R&amp;D) projects, potentially accelerating their breakthroughs.
Moreover, the global biotechnology market is anticipated to reach <a href="https://www.precedenceresearch.com/biotechnology-market#:~:text=The%20global%20biotechnology%20market%20size%20accounted%20for%20USD%201.55%20trillion%20in%202024%20and%20is%20expected%20to%20reach%20around%20USD%204.61%20trillion%20by%202034%2C%20expanding%20at%20a%20CAGR%20of%2011.5%25%20from%202024%20to%202034.">$4.61 trillion by 2034</a>, growing at a CAGR of 11.5%. With a focus on next-generation therapies such as gene editing, immunotherapy, and biologics, biotech companies are at the forefront of medical innovation, creating a favorable environment for breakthroughs in life-saving treatments.
With that in mind, let's evaluate the fundamentals of the featured <a href="https://stocknews.com/category/biotech/">Biotech</a> industry stocks, starting with number three:
Stock #3: Royalty Pharma plc (<a href="https://stocknews.com/stock/RPRX/">RPRX</a>)
RPRX operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry. The company's portfolio consists of royalties on nearly 35 commercial products and 14 development-stage product candidates that address therapeutic areas like diabetes, cancer, neuroscience, immunology, respiratory, and hematology.
On September 3, RPRX and Ascendis Pharma Bone Diseases A/S, a wholly-owned subsidiary of Ascendis Pharma A/S (<a href="https://stocknews.com/stock/ASND/">ASND</a>), entered into a royalty funding agreement of $150 million based on U.S. net sales of Yorvipath. This transaction supports the continued development and commercialization of Endocrine Rare Disease products.
On May 28, RPRX announced its acquisition of Agios Pharmaceuticals' royalty on Servier's vorasidenib for $905 million cash. The vorasidenib would be the first targeted therapy for patients with IDH-mutant glioma if approved by the U.S. Food and Drug Administration (FDA).
RPRX for the second quarter (ended June 30, 2024) reported portfolio receipts of $608 million, indicating an 11.6% growth from the prior year quarter. Its operating income increased 8.4% year-over-year to $270 million. In addition, its adjusted EBITDA grew 12.4% from the prior year's quarter to $560 million.
The company's net income and <a href="https://www.investopedia.com/terms/e/eps.asp">EPS</a> attributable stood at $102 million and $0.23, respectively. Also, the non-GAAP portfolio cash flow came in at $574 million, up 11.2% year-over-year.
The company has updated its fiscal year 2024 financial outlook, increasing its revenue projection to a range of $2.70 billion to $2.78 billion, up from the previous estimate of $2.60 billion to $2.70 billion.
Analysts expect RPRX's revenue for the third quarter (ending September 2024) to grow 39.6% year-over-year to $748.66 million, while its EPS for the same period is expected to increase 16.7% from the prior year to $0.92.
Shares of RPRX have surged 5.2% over the past year to close the last trading session at $27.71. The 12-month median price target of $46.33 indicates <a href="https://www.tipranks.com/stocks/rprx/forecast">a 67.3% upside potential</a> from the last closing price. The price targets range from a low of $38 to a high of $51.
RPRX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
RPRX has a B grade for Growth and Sentiment. It is ranked #33 out of 335 stocks in the <a href="https://stocknews.com/category/biotech/">Biotech</a> industry. <a href="https://stocknews.com/stock/RPRX/">Click here</a> to see the additional ratings for RPRX (Value, Momentum, Stability, and Quality).
Stock #2: BioMarin Pharmaceutical Inc. (<a href="https://stocknews.com/stock/BMRN/">BMRN</a>)
BMRN develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. The company is a biotechnology company addressing the root cause of genetic conditions.
On July 24, BMRN announced that the U.S. FDA approved BRINEURA (cerliponase alfa) for children under three years with neuronal ceroid lipofuscinosis type 2 (CLN2 disease). The approval expands the treatment to all ages, including presymptomatic children, to slow the loss of ambulation.
In the fiscal second quarter that ended on June 30, 2024, BMRN's total revenue increased 19.6% year-over-year to $712.03 million. The company reported non-GAAP income from operations of $221.80 million, indicating 71.7% growth from the prior-year quarter. BMRN's non-GAAP net income came in at $188.90 million, up 79.6% year-over-year, while its non-GAAP EPS grew 77.8% from the year-ago value to $0.96.
According to the updated financial guidance for fiscal year 2024, the company's revenue is now projected to be between $2.75 billion and $2.83 billion, with non-GAAP operating margin anticipated to fall between 26% and 27%. Its non-GAAP EPS is expected to range from $3.10 to $3.25.
The consensus revenue estimate of $703.13 million for the fiscal third quarter (ending September 2024) represents a 20.9% increase year-over-year. The consensus EPS estimate of $0.80 for the same quarter indicates a 73.3% improvement year-over-year. The company has an impressive earnings surprise history; it surpassed the consensus EPS estimates in three of the trailing four quarters.
The stock has surged marginally intraday to close the last trading session at $69.48. Its 12-month <a href="https://www.tipranks.com/stocks/bmrn/forecast">price target of $105.52</a> reflects a 51.9% potential upside. The price targets range from a low of $72 to a high of $132.
It's no surprise that BMRN has an overall rating of B, equating to a Buy in our POWR Ratings system. It has an A grade for Growth and a B for Value and Sentiment. Out of 335 stocks in the same industry, BMRN is ranked #14.
Beyond what is stated above, we've also rated BMRN for Momentum, Stability, and Quality. Get all BMRN ratings <a href="https://stocknews.com/stock/BMRN/">here</a>.
Stock #1: Biogen Inc. (<a href="https://stocknews.com/stock/BIIB/">BIIB</a>)
BIIB is a global biopharmaceutical company focused on discovering, developing, and delivering advanced therapies worldwide for people with serious and complex diseases. The company has a portfolio of medicines to treat multiple sclerosis (MS), spinal muscular atrophy (SMA), Alzheimer's disease, and amyotrophic lateral sclerosis (ALS). 
On August 22, BIIB and Eisai Co., Ltd. announced that the Medicines and Healthcare Products Regulatory Agency (MHRA) in Great Britain granted marketing authorization to its Leqembi&#xAE;, the humanized amyloid-beta (Aβ) monoclonal antibody.
On July 30, BIIB, Beckman Coulter, Inc., and Fujirebio announced a collaboration to potentially identify and develop accessible, minimally invasive blood-based biomarkers specific for tau-pathology in the brain. These tools have the potential to be used to stratify patients or monitor treatment response for a new generation of future therapies impacting tau pathology in Alzheimer's disease.
For the second quarter of 2024, which ended on June 30, BIIB's total revenues increased marginally year-over-year to $2.46 billion. Its non-GAAP total net income attributable for the quarter amounted to $770.90 million or $5.28 per share, representing increases of 31.9% and 31.3%, respectively, from the same period last year.
Per the updated financial guidance for the fiscal year 2024, BIIB now forecasts non-GAAP EPS between $15.75 and $16.25, up from the previous estimate of $15 and $16.
Street expects BIIB's revenue for the fiscal fourth quarter (ending December 2024) to increase 2.4% year-over-year to $2.44 billion. Its EPS for the same period is expected to register a 14.7% growth from the prior year, settling at $3.38. In addition, it surpassed the EPS estimates in three of the trailing four quarters, which is promising.
BIIB's stock has declined 0.9% intraday to close the last trading session at $194.12. Its 12-month price target of $274.84 indicates <a href="https://www.tipranks.com/stocks/biib/forecast">a 41.6% potential upside</a>. The price targets range from a low of $190 to a high of $342.
BIIB's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It also has an A grade for Value and a B for Growth. Within the Biotech industry, it is ranked #8. <a href="https://stocknews.com/stock/BIIB/">Click here</a> to see BIIB's ratings for Momentum, Stability, Sentiment, and Quality.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
BIIB shares were trading at $190.22 per share on Wednesday afternoon, down $3.90 (-2.01%). Year-to-date, BIIB has declined -26.49%, versus a 21.09% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/biib-rprx-bmrn-asnd-3-biotech-stocks-wall-street-predicts-will-skyrocket/>3 Biotech Stocks Wall Street Predicts Will Skyrocket</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Biotech Stocks Wall Street Predicts Will Skyrocket

Ascendis Pharma (ASND) has released an update. Ascendis Pharma A/S, a company focused on developing medical treatments for diseases, has released i...

Ascendis Pharma Details Share Capital Strategy

Ascendis Pharma (ASND) has released an update. Ascendis Pharma A/S has announced the submission of a supplemental Biologics License Application to ...

Ascendis Pharma Seeks FDA Expansion for TransCon hGH

Biotech companies could gain the financial flexibility to accelerate their innovations with the Fed's recent rate cut. To capitalize on this opportunity, consider investing in fundamentally sound biotech stocks Biogen (BIIB), Royalty Pharma (RPRX), and BioMarin Pharmaceutical (BMRN), that are poised to skyrocket. Learn more... The biotech industry is experiencing significant growth as it continues to innovate in medicine and life sciences. With rising demand for therapeutics and new treatments targeting several complex diseases such as cancer, Alzheimer's, and rare genetic disorders, the sector is buzzing with potential.
Amid this backdrop, investors looking to gain from this momentum could scoop up the shares of fundamentally sound biotech companies like Biogen Inc. (<a href="https://stocknews.com/stock/BIIB/">BIIB</a>), BioMarin Pharmaceutical Inc. (<a href="https://stocknews.com/stock/BMRN/">BMRN</a>), and Royalty Pharma plc (<a href="https://stocknews.com/stock/RPRX/">RPRX</a>) with promising upside potential.
Analysts believe the Federal Reserve's recent rate cuts could further boost the biotech sector. John Maraganore, former CEO of Alnylam Pharmaceuticals, emphasized that the cut "will be very positive for the biotech capital markets," predicting a meaningful uptick in the sector as rates decline. Lower rates mean reduced borrowing costs, allowing biotech firms to raise more capital for their research and development (R&amp;D) projects, potentially accelerating their breakthroughs.
Moreover, the global biotechnology market is anticipated to reach <a href="https://www.precedenceresearch.com/biotechnology-market#:~:text=The%20global%20biotechnology%20market%20size%20accounted%20for%20USD%201.55%20trillion%20in%202024%20and%20is%20expected%20to%20reach%20around%20USD%204.61%20trillion%20by%202034%2C%20expanding%20at%20a%20CAGR%20of%2011.5%25%20from%202024%20to%202034.">$4.61 trillion by 2034</a>, growing at a CAGR of 11.5%. With a focus on next-generation therapies such as gene editing, immunotherapy, and biologics, biotech companies are at the forefront of medical innovation, creating a favorable environment for breakthroughs in life-saving treatments.
With that in mind, let's evaluate the fundamentals of the featured <a href="https://stocknews.com/category/biotech/">Biotech</a> industry stocks, starting with number three:
Stock #3: Royalty Pharma plc (<a href="https://stocknews.com/stock/RPRX/">RPRX</a>)
RPRX operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry. The company's portfolio consists of royalties on nearly 35 commercial products and 14 development-stage product candidates that address therapeutic areas like diabetes, cancer, neuroscience, immunology, respiratory, and hematology.
On September 3, RPRX and Ascendis Pharma Bone Diseases A/S, a wholly-owned subsidiary of Ascendis Pharma A/S (<a href="https://stocknews.com/stock/ASND/">ASND</a>), entered into a royalty funding agreement of $150 million based on U.S. net sales of Yorvipath. This transaction supports the continued development and commercialization of Endocrine Rare Disease products.
On May 28, RPRX announced its acquisition of Agios Pharmaceuticals' royalty on Servier's vorasidenib for $905 million cash. The vorasidenib would be the first targeted therapy for patients with IDH-mutant glioma if approved by the U.S. Food and Drug Administration (FDA).
RPRX for the second quarter (ended June 30, 2024) reported portfolio receipts of $608 million, indicating an 11.6% growth from the prior year quarter. Its operating income increased 8.4% year-over-year to $270 million. In addition, its adjusted EBITDA grew 12.4% from the prior year's quarter to $560 million.
The company's net income and <a href="https://www.investopedia.com/terms/e/eps.asp">EPS</a> attributable stood at $102 million and $0.23, respectively. Also, the non-GAAP portfolio cash flow came in at $574 million, up 11.2% year-over-year.
The company has updated its fiscal year 2024 financial outlook, increasing its revenue projection to a range of $2.70 billion to $2.78 billion, up from the previous estimate of $2.60 billion to $2.70 billion.
Analysts expect RPRX's revenue for the third quarter (ending September 2024) to grow 39.6% year-over-year to $748.66 million, while its EPS for the same period is expected to increase 16.7% from the prior year to $0.92.
Shares of RPRX have surged 5.2% over the past year to close the last trading session at $27.71. The 12-month median price target of $46.33 indicates <a href="https://www.tipranks.com/stocks/rprx/forecast">a 67.3% upside potential</a> from the last closing price. The price targets range from a low of $38 to a high of $51.
RPRX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
RPRX has a B grade for Growth and Sentiment. It is ranked #33 out of 335 stocks in the <a href="https://stocknews.com/category/biotech/">Biotech</a> industry. <a href="https://stocknews.com/stock/RPRX/">Click here</a> to see the additional ratings for RPRX (Value, Momentum, Stability, and Quality).
Stock #2: BioMarin Pharmaceutical Inc. (<a href="https://stocknews.com/stock/BMRN/">BMRN</a>)
BMRN develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. The company is a biotechnology company addressing the root cause of genetic conditions.
On July 24, BMRN announced that the U.S. FDA approved BRINEURA (cerliponase alfa) for children under three years with neuronal ceroid lipofuscinosis type 2 (CLN2 disease). The approval expands the treatment to all ages, including presymptomatic children, to slow the loss of ambulation.
In the fiscal second quarter that ended on June 30, 2024, BMRN's total revenue increased 19.6% year-over-year to $712.03 million. The company reported non-GAAP income from operations of $221.80 million, indicating 71.7% growth from the prior-year quarter. BMRN's non-GAAP net income came in at $188.90 million, up 79.6% year-over-year, while its non-GAAP EPS grew 77.8% from the year-ago value to $0.96.
According to the updated financial guidance for fiscal year 2024, the company's revenue is now projected to be between $2.75 billion and $2.83 billion, with non-GAAP operating margin anticipated to fall between 26% and 27%. Its non-GAAP EPS is expected to range from $3.10 to $3.25.
The consensus revenue estimate of $703.13 million for the fiscal third quarter (ending September 2024) represents a 20.9% increase year-over-year. The consensus EPS estimate of $0.80 for the same quarter indicates a 73.3% improvement year-over-year. The company has an impressive earnings surprise history; it surpassed the consensus EPS estimates in three of the trailing four quarters.
The stock has surged marginally intraday to close the last trading session at $69.48. Its 12-month <a href="https://www.tipranks.com/stocks/bmrn/forecast">price target of $105.52</a> reflects a 51.9% potential upside. The price targets range from a low of $72 to a high of $132.
It's no surprise that BMRN has an overall rating of B, equating to a Buy in our POWR Ratings system. It has an A grade for Growth and a B for Value and Sentiment. Out of 335 stocks in the same industry, BMRN is ranked #14.
Beyond what is stated above, we've also rated BMRN for Momentum, Stability, and Quality. Get all BMRN ratings <a href="https://stocknews.com/stock/BMRN/">here</a>.
Stock #1: Biogen Inc. (<a href="https://stocknews.com/stock/BIIB/">BIIB</a>)
BIIB is a global biopharmaceutical company focused on discovering, developing, and delivering advanced therapies worldwide for people with serious and complex diseases. The company has a portfolio of medicines to treat multiple sclerosis (MS), spinal muscular atrophy (SMA), Alzheimer's disease, and amyotrophic lateral sclerosis (ALS). 
On August 22, BIIB and Eisai Co., Ltd. announced that the Medicines and Healthcare Products Regulatory Agency (MHRA) in Great Britain granted marketing authorization to its Leqembi&#xAE;, the humanized amyloid-beta (Aβ) monoclonal antibody.
On July 30, BIIB, Beckman Coulter, Inc., and Fujirebio announced a collaboration to potentially identify and develop accessible, minimally invasive blood-based biomarkers specific for tau-pathology in the brain. These tools have the potential to be used to stratify patients or monitor treatment response for a new generation of future therapies impacting tau pathology in Alzheimer's disease.
For the second quarter of 2024, which ended on June 30, BIIB's total revenues increased marginally year-over-year to $2.46 billion. Its non-GAAP total net income attributable for the quarter amounted to $770.90 million or $5.28 per share, representing increases of 31.9% and 31.3%, respectively, from the same period last year.
Per the updated financial guidance for the fiscal year 2024, BIIB now forecasts non-GAAP EPS between $15.75 and $16.25, up from the previous estimate of $15 and $16.
Street expects BIIB's revenue for the fiscal fourth quarter (ending December 2024) to increase 2.4% year-over-year to $2.44 billion. Its EPS for the same period is expected to register a 14.7% growth from the prior year, settling at $3.38. In addition, it surpassed the EPS estimates in three of the trailing four quarters, which is promising.
BIIB's stock has declined 0.9% intraday to close the last trading session at $194.12. Its 12-month price target of $274.84 indicates <a href="https://www.tipranks.com/stocks/biib/forecast">a 41.6% potential upside</a>. The price targets range from a low of $190 to a high of $342.
BIIB's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It also has an A grade for Value and a B for Growth. Within the Biotech industry, it is ranked #8. <a href="https://stocknews.com/stock/BIIB/">Click here</a> to see BIIB's ratings for Momentum, Stability, Sentiment, and Quality.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
BIIB shares were trading at $190.22 per share on Wednesday afternoon, down $3.90 (-2.01%). Year-to-date, BIIB has declined -26.49%, versus a 21.09% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/biib-rprx-bmrn-asnd-3-biotech-stocks-wall-street-predicts-will-skyrocket/>3 Biotech Stocks Wall Street Predicts Will Skyrocket</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Septerna, hypoparathyroidism drug developer, files for $100M IPO

ABBV

AMGN

APLS

AVDL

AZNCF

BHVN

BIIB

ETNB

FDMT

GMED

INSM

LBTYA

MRVL

NONOF

NVSEF

RPRX

SANA

SNYNF

SRPT

ULTA

UTHR

VIRT

VRTX

XLRE

Earnings

Press Releases

Ascendis Pharma Reports Second Quarter 2024 Financial Results

Financing

Ascendis Pharma and Royalty Pharma Enter into $150 Million Royalty Funding Agreement

Royalty Pharma and Ascendis Pharma Enter Into $150 Million Royalty Funding Agreement

Ascendis Pharma Receives Orphan Drug Exclusivity in the U.S. for YORVIPATH® (Palopegteriparatide) for the Treatment of Hypoparathyroidism in Adults

Ascendis to Present First Results from Platinum-Resistant Ovarian Cancer (PROC) Cohort of the Phase 1/2 IL-Believe Trial at ESMO 2024

Pivotal ApproaCH Trial of TransCon™ CNP (Navepegritide) Achieved Primary Objective, Demonstrated AGV Superior to Placebo

Ascendis Pharma A/S Announces Proposed Public Offering of ADSs

Legal

Ascendis Pharma A/S Announces Pricing of Public Offering of ADSs

New 3-Year Skeletal Dynamics Data for Adults with Hypoparathyroidism Treated with TransCon™ PTH (Palopegteriparatide) Presented at ASBMR 2024

Ascendis Pharma Announces Submission of Supplemental Biologics License Application to FDA for TransCon™ hGH for the Treatment of Adults with Growth Hormone Deficiency

Comments

Ascendis Pharma

Notizie

Ultime notizie per Ascendis Pharma (NASDAQ:ASND) Azioni

Le persone guardano anche

Notizie

PARTNER/COLLABORATORE

BENZINGA NEL MONDO