BofA raised the firm’s price target on Ascendis Pharma (ASND) to $113 from $107 and keeps a Buy rating on the shares after the company reported Q2 sales and raised FY23 Skytrofa sales guidance to EUR 165-170M as management continues to be encouraged by the trajectory of the launch. The firm updates its model for the Royalty Pharma (RPRX) agreement that includes a $150M upfront payment, but notes the payment does not in its view diminish near-term financing needs and it still models cash raises in 2024 and 2025.
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