Ascendis Pharma price target lowered to $170 from $173 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Ascendis Pharma to $170 from $173 and keeps an Overweight rating on the shares. The stock was down 18% post-market due to a surprise weak Q2 print of Skytrofa and a lower annual guidance by EUR100M, the analyst tells investors in a research note. Cantor feels the the Skytrofa update overshadowed another key update from the call, which is the U.S. pricing for Yorvipath of $285K/patient/year, much higher than the firm’s expectation of $160K-$190K.