BofA raised the firm’s price target on Ascendis Pharma to $129 from $124 and keeps a Buy rating on the shares. The analyst cites the company’s positive topline results for their Phase 3 foresiGHt trial evaluating TransCon hGH in adult GHD patients, which met both its primary and secondary endpoints, demonstrating statistically significant changes from baseline in trunk percent fat and total body lean mass as compared to placebo. The firm adds however that the commercial opportunity is significantly lower in the adult GHD population as compared to pediatric GHD, with ASND estimating less than 4% of adult GHD patients are actively seeking treatment.
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