Ascendis Pharma price target raised to $273 from $240 at Wedbush

Wedbush raised the firm’s price target on Ascendis Pharma (ASND) to $273 from $240 and keeps an Outperform rating on the shares. The firm notes that the Q4/FY25 update did not contain much material new information after Ascendis pre-announced revenues in January, and management continues to guide for strong growth in Yorvipath adoption in 2026 with only less than 5% of U.S. patients currently on therapy, unchanged confidence in an FDA approval of TransCon CNP for achondroplasia by the PDUFA date of February 28 and a timely launch afterward, and the goal of achieving total annual TransCon product revenues of over EUR 5B by 2030.