Ascendis Pharma (ASND) could see a rise in consensus estimate following a promising launch of Yorvipath in hypoparathyroidism treatment, Morgan Stanley said in a note Monday.
"The first quarter of US Yorvipath performance through 1Q25 results was ~2x ahead of our expectations," the note said.
"While we acknowledge the launch remains early, initial metrics provide an encouraging read to provider appetite, prescription growth, and payor receptivity," the report added.
Morgan Stanley said it revised its Yorvipath estimates upwards to peak sales of over $2 billion.
The report said the launch metrics and commercial performance are aligning well with strong feedback, pointing to "potential for 2025 performance that can drive consensus higher."
Morgan Stanley upgraded Ascendis to overweight from equalweight and boosted its price target to $250 from $180.
Price: 173.85, Change: +1.79, Percent Change: +1.04
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