Oppenheimer analyst Leland Gershell reiterated an Outperform rating and $262.00 price target on Ascendis Pharma (NASDAQ: ASND).

The analyst commented: "Ascendis unveiled long-term data at the European Congress of Endocrinology (ECE) and at ENDO, the annual Endocrine Society meeting, reinforcing Yorvipath's ability to broadly address hypoparathyroid patients' physiologic needs. Across up to five years in Phase 2 and three-and-a-half years in Phase 3, Yorvi continues to demonstrate durable response rates (82% and 86%, respectively) while maintaining favorable effects on renal function, urinary calcium excretion, bone health, and patient-reported outcomes. Importantly, these findings have remained consistent across datasets and follow-up periods, supporting the idea that Yorvi is restoring the broad physiologic actions of endogenous PTH rather than simply managing serum calcium levels. We believe the growing depth of evidence meaningfully builds conviction in the long-term clinical and commercial case for Yorvi in hypoparathyroidism. We maintain our 2032 global sales projection of $3B and reiterate Outperform."

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Shares of Ascendis Pharma closed at $218.06 yesterday.