Ascendis Pharma (ASND) PT Lowered to $157 at TD Cowen

TD Cowen analyst Yaron Werber lowered the price target on Ascendis Pharma (NASDAQ: ASND) to $157.00 (from $175.00) while maintaining a Buy rating.

The analyst commented, "Skytrofa €26M revs missed our €73M/cons €77M impacted by €27M deductions from lower net selling price b/c of rebating. Price now stable w/€53M Q2 sales as real runrate into H2. FY24 guidance lowered to €220-€240M. Yorvipath €5M revs in line w/ our €5M/cons €6M. Full US launch expected in Q1:25 with $285k/yr list price. CNP Ph3 data in coming weeks (database locked), NDA filing pushed to Q1:25."

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