Ascendis Pharma price target raised to $215 from $180 at Oppenheimer

Oppenheimer raised the firm’s price target on Ascendis Pharma (ASND) to $215 from $180 and keeps an Outperform rating on the shares. The firm notes Q1 Yorvipath sales of EUR 44.7M blew past EUR 29.5M mean broker estimate in this product’s first full U.S. commercial quarter. Although U.S. sales of EUR 26M got a boost from conversion of the about 200 expanded access patients to paid drug, the print increases Oppenheimer’s confidence in Ascendis’ execution and its conviction that Yorvipath’s sales trajectory will surpass expectations.