TD Cowen raised its price target on Ascendis Pharma (NASDAQ: ASND) to $227.00 from $194.00 on Friday, while maintaining a Buy rating on the stock. The company, currently valued at $11.5 billion, has seen its shares surge over 57% in the past six months, trading near its 52-week high of $190.35. The firm cited strong second-quarter performance for Yorvipath, which showed continued launch momentum with 3,100 patient start forms, representing a 77% quarter-over-quarter increase. Skytrofa missed expectations in the second quarter due to foreign exchange headwinds, but TD Cowen expects these pressures to unwind in the third quarter, supported by the recent label expansion to adult growth hormone deficiency approved on July 27 and an upcoming IND for a growth hormone basket trial in Q3. The research firm anticipates positive Phase 2 week 52 data from the CNP/GH COACH trial in the fourth quarter of 2025, which could further support the company’s growth trajectory. TD Cowen identified the upcoming MBX Phase 2 data for Yorvipath as the next stock-moving catalyst for Ascendis Pharma. In other recent news, Ascendis Pharma reported impressive second-quarter earnings, with revenue reaching EUR158.05 million, surpassing the consensus estimate of EUR142.38 million. This represents a significant 339% increase from EUR36.0 million in the same period last year. The company’s revenue was driven by strong sales of its Yorvipath and Skytrofa products. Ascendis Pharma also reported a narrower-than-expected loss of EUR0.82 per share, compared to analyst expectations of a EUR1.27 loss. Following these results, several investment firms adjusted their price targets for the company. BofA Securities raised its price target to $227, citing strong Yorvipath sales and improved U.S. adoption. Evercore ISI increased its target to $285, highlighting a 'clean beat' against high expectations. Goldman Sachs also raised its price target to $250, acknowledging sustained sales momentum. These developments reflect the company’s robust financial performance and positive market reception.

Ascendis Pharma stock price target raised by TD Cowen on Yorvipath momentum

TD Cowen raised its price target on Ascendis Pharma (NASDAQ: ASND) to $227.00 from $194.00, citing strong Yorvipath performance and positive outlook for future trials. The company, valued at $11.5 billion, saw shares rise 57% in six months. Yorvipath showed 77% QoQ growth in patient start forms, while Skytrofa faced FX headwinds but expects improvement. The firm anticipates Phase 2 data in Q4 2025 and highlights robust Q2 revenue of EUR158.05M, surpassing expectations.