Cantor Fitzgerald Raises Ascendis Pharma (ASND) PT to $254, Sees Steady New Patient Adds

Cantor Fitzgerald analyst Li Watsek raised the price target on Ascendis Pharma (NASDAQ: ASND) to $254.00 while maintaining an Overweight rating.

The analyst commented, "We updated our patient flow model (pg. 3, Exhibit 3) for Yorvipath, and project largely in-line 3Q sales of $179M vs. $177M FactSet consensus, as we believe the Street has caught up to the initial strong launch trajectory. In fact, the range communicated by investors that we spoke with clusters around consensus, as most expect Ascendis to deliver a "steady" growth of ~1,500 new patient adds QoQ. Any differences vs. consensus are likely to be marginal (due to exchange rate, acceleration of converts, or seasonality). We reiterate our Overweight rating and increase our price target to $254/sh ahead of the 3Q print."

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