Ascendis Pharma's (ASND) strong stock performance will likely continue after a more than 30% return in the past few weeks, Wedbush analysts said in a Thursday note.

The analysts said that recent 5-year data from the phase-2 PaTH Forward study and the 182-week data from the phase-3 PaTHway study provide strong evidence of Yorvipath's unmatched efficacy and safety in treating hypoparathyroidism.

Wedbush raised its projections on the company's US market penetration by 1% each year from 2027 through 2035.

Yorvipath's worldwide revenue is now projected to reach 3.9 billion euros ($4.5 billion) in 2035, compared with a previous forecast of 3.8 billion euros.

Wedbush retained an outperform rating on the stock and increased its price target to $327 from $273.