Ascendis Pharma (ASND) could significantly exceed Q2 expectations, especially if Q1 Yorvipath patients continue on therapy, RBC Capital Markets said in a note Tuesday.

The company reported 1,750 prescriptions for Yorvipath in Q1, but some investors raised concerns over a possible slow start in Q2 since April data were not provided during the May 1 report, the investment firm said.

To address these concerns, a survey of 35 US endocrinologists across 23 states by RBC found no signs of a slowdown, while doctors estimated that 1,669 new prescriptions would be written in Q2, indicating steady momentum, RBC said.

Notably, doctors are prescribing Yorvipath beyond the most severe cases, suggesting the treatment's addressable market may be significantly larger than the 10-15% of patients previously assumed, according to RBC.

The company could exceed Q2 expectations with a potential revenue beat of 90 million euros ($102.8 million) versus the 75 million euro consensus, RBC analysts noted.

RBC has an outperform rating with speculative risk qualifier for Ascendis and a $210 price target.

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