Selected stock price target news of the day - November 19th, 2024

By: Matthew Otto

Ascendis Pharma Misses Q3 Revenue and EPS Estimates, Adjusts Full-Year Outlook

Ascendis Pharma reported a Q3 2024 net loss of $1.82 per share, missing the analyst estimate of a $1.63 per share loss. Total revenue for the quarter was $61.9 million, below the consensus estimate of $73.3 million.

SKYTROFA contributed $50.5 million, reflecting over 60% year-over-year volume growth, offset by $2.7 million in prior-period sales deductions. YORVIPATH, marketed for hypoparathyroidism, generated $9.1 million in ex-U.S. revenue, supported by demand from over 600 patients. Operating expenses for Q3 totaled $154.0 million, a decrease from $188.0 million in Q3 2023, driven by reduced R&D spending.

Ascendis reaffirmed its full-year 2024 SKYTROFA revenue guidance of $218 to $240 million, excluding prior-year sales deductions. Operating expenses are expected to total approximately $654 million for 2024.

Analysts Mixed Price Target Adjustments Following Q3 Miss

TD Cowen analyst Yaron Werber maintained a Buy rating but reduced the price target from $160 to $153.
Wedbush analyst Andreas Argyrides reiterated an Outperform rating and the $181 price target.
Oppenheimer analyst Leland Gershell maintained an Outperform rating, however, lowered the price target from $190 to $180.
Cantor Fitzgerald analyst Li Watsek reiterated an Overweight rating and a $170 price target.
Stifel analyst Alex Thompson maintained a Buy rating yet increased the price target from $200 to $207.
Baird analyst Vikram Kesavabhotla maintained an Outperform rating and raised the price target from $130 to $140.

Which Analyst has the best track record to show on ASND?

Analyst Jessica Fye (JPMORGAN) currently has the highest performing score on ASND with 14/18 (77.78%) price target fulfillment ratio. His price targets carry an average of $46.31 (36.27%) potential upside. Ascendis Pharma stock price reaches these price targets on average within 120 days.

Bluebird bio Reports Third Quarter 2024 Results, Misses Revenue Expectations

Bluebird bio reported a Q3 2024 earnings per share (EPS) loss of ($0.31), exceeding analyst expectations of ($0.36) by $0.05. However, revenue for the quarter came in at $10.6 million, significantly below the consensus estimate of $18.05 million.

Cost of product revenue increased to $11.8 million, up from $9.1 million in Q3 2023. Despite these pressures, net loss narrowed to $60.8 million, compared to $87.2 million in the same quarter last year, primarily due to a 60% reduction in research and development expenses, which fell to $23.2 million from $58.5 million.

Operationally, Bluebird bio completed 57 patient starts in 2024 across its portfolio, comprising 35 for ZYNTEGLO, 17 for LYFGENIA, and 5 for SKYSONA, with 17 additional starts scheduled for Q4. Bluebird’s cash position remains precarious, with $118.7 million in cash, cash equivalents, and restricted cash as of September 30, 2024, including $48 million in restricted cash.

Bluebird’s guidance anticipates at least $25 million in revenue for Q4, but achieving quarterly cash flow break-even by the second half of 2025 will depend on scaling to 40 product deliveries per quarter.

Analyst Downgrades Reflect Concerns Over Q3 Performance and Outlook

JPMorgan analyst Eric Joseph downgraded from Neutral to Underweight.
RBC Capital analyst Luca Issi reiterated a Sector Perform rating and a $4 price target.
BofA Securities analyst Jason Gerberry downgraded from Buy to Neutral and reduced the price target from $3 to $0.5.
Barclays analyst Gena Wang maintained an Overweight rating but lowered the price target from $4 to $2.

Which Analyst has the best track record to show on BLUE?

Analyst Yanan Zhu (WELLS FARGO) currently has the highest performing score on BLUE with 2/5 (40%) price target fulfillment ratio. His price targets carry an average of $1.63 (118.98%) potential upside. Bluebird bio stock price reaches these price targets on average within 178 days.

Gambling.com Group Reports Q3 2024 Results, Beats Estimates, and Raises Full-Year Guidance

Gambling.com reported its third quarter for 2024, with earnings per share (EPS) of $0.25, surpassing the analyst estimate of $0.18 by $0.07. Revenue for the quarter reached $32.12 million, exceeding the consensus estimate of $30.4 million and marking a 37% year-over-year increase.

Gambling.com also achieved a 35% rise in new depositing customers (NDCs), delivering over 116,000 to clients. Gross profit surged 43% to $30.4 million, supported by revenue growth and a $0.5 million reduction in media partnership costs.

Operating expenses increased 25% to $20.8 million due to higher personnel costs and amortization from the Freebets.com acquisition. Adjusted net income rose 65% to $8.9 million, while adjusted net income per share climbed 79% to $0.25. Adjusted EBITDA more than doubled to $12.6 million, representing a margin of 39%, up from 26% in the prior year. Free cash flow jumped to $14.2 million from $1.6 million.

Gambling.com updated its full-year 2024 guidance, projecting revenue between $125 million and $127 million, aligning with the midpoint of analyst consensus at $124.8 million. Adjusted EBITDA is forecasted to range between $46.5 million and $48.5 million, representing 29% year-over-year growth at the midpoint.

Analysts Upbeat on Strong Q3 Performance, Raise Price Targets

Macquarie analyst Chad Beynon maintained an Outperform rating and increased the price target from $14 to $16.
Craig-Hallum analyst Ryan Sigdahl held a Buy rating and raised the price target from $14 to $16.
Stifel analyst Jeffrey Stantial continued with a Buy rating and raised the price target from $13 to $14.
Truist Securities analyst Barry Jonas reiterated a Buy rating while lifting the price target from $13 to $16.

Which Analyst has the best track record to show on GAMB?

Analyst Jeffrey Stantial (STIFEL) currently has the highest performing score on GAMB with 1/4 (25%) price target fulfillment ratio. His price targets carry an average of $2.07 (17.35%) potential upside. Gambling.com stock price reaches these price targets on average within 10 days.