Oppenheimer upgrades Ascendis Pharma shares on potential drug launches
Oppenheimer upgrades Ascendis Pharma to Outperform with a $180 price target, anticipating the U.S. launch of Yorvipath in Q1 2025 and Phase 3 results for TransCon CNP. The firm sees potential for €1.7 billion in global revenue by 2029 and undervaluation in TransCon CNP. Ascendis Pharma faces challenges with Skytrofa sales but aims for approvals of all three product candidates by end-2025. The company ended Q2 2024 with EUR259 million in cash and forecasts EUR220-240 million in Skytrofa revenue for 2024.
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Oppenheimer upgrades Ascendis Pharma to Outperform with a $180 price target, anticipating the U.S. launch of Yorvipath in Q1 2025 and Phase 3 results for TransCon CNP. The firm sees potential for €1.7 billion in global revenue by 2029 and undervaluation in TransCon CNP. Ascendis Pharma faces challenges with Skytrofa sales but aims for approvals of all three product candidates by end-2025. The company ended Q2 2024 with EUR259 million in cash and forecasts EUR220-240 million in Skytrofa revenue for 2024.