Ascendis Pharma price target lowered to $192 from $203 at BofA

BofA lowered the firm’s price target on Ascendis Pharma (ASND) to $192 from $203 and keeps a Buy rating on the shares. After Ascendis provided an early look at U.S. Yorvipath launch dynamics, the firm now assumes revenues are more weighted to the second half and as such lowers FY25 Yorvipath sales of EUR 206M and its price target on the shares. However, the firm maintains a positive view on the long-term opportunity, modeling peak sales of EUR 2.9B, and highlights Ascendis as “one of our top picks for 2025.”