Ascendis Pharma's (ASND) Q2 results showed a solid rebound for Yorvipath, while the early launch of Yuviwel in achondroplasia is progressing well, RBC Capital Markets said in a Thursday note.

According to the note, Yorvipath revenue rose to 252 million euros ($291.8 million) from 197 million euros in Q1, slightly above RBC's estimate of 249 million euros. The sequential increase indicated steady uptake as management reiterated about 1,000 unique US patient starts per quarter at steady state, the analysts said.

RBC also noted that Yuviwel had more than 220 unique patient enrollments by July 31, up from over 170 at the end of Q2, while its prescriber base expanded to more than 100, with about 80% of centers of excellence already prescribing the drug. Ascendis expects an EMA decision in Q4, the note said.

Ascendis maintained its 2026 operating cash flow guidance of more than 500 million euros, while RBC said the company remains confident about the ongoing ITC dispute, with a preliminary opinion expected Aug. 21 and a full commission decision expected in December, the report added.

RBC maintains its outperform rating on the stock and raised its price target to $290 from $280.

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