a day ago
Ascendis Pharma price target raised to $224 from $215 at Oppenheimer
Oppenheimer raised the firm's price target on Ascendis Pharma (ASND) to $224 from $215 and keeps an Outperform rating on the shares. The firm's commissioned survey of 20 U.S. hypoparathyroid-treating endocrinologists indicates robust early demand for Yorvipath, with about 20%-30% of its respondents' hypoPT patients expected to be on drug one year hence. While this lines up with the renal impairment rate across the hypoPT population, 90% of its surveyed physicians would reach for Yorvi to preserve kidney function ahead of such impairment. Access/reimbursement was pointed to as the largest adoption hurdle by most of the docs, but this may be more anticipation than reality. Oppenheimer believes Yorvi's strong first full U.S. quarter was just the beginning of a launch that will outpace expectations.
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