Oppenheimer raised the firm’s price target on Ascendis Pharma (ASND) to $190 from $180 and keeps an Outperform rating on the shares. The firm believes the Phase 3 success in achondroplasia not only puts once weekly navepegritide on track to launch in 2025-2026 but also paints a compelling clinical profile vs. BioMarin’s (BMRN) daily Voxzogo. With shares having closed up 17% on Monday, Oppenheimer thinks the news surprised many who had written off navepegritide, which it now expects to become an important valuation contributor.
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- BioMarin price target lowered to $87 from $115 at Stifel
- BioMarin price target lowered to $110 from $120 at JPMorgan
- Ascendis Pharma price target raised to $180 from $165 at JPMorgan
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