H.C. Wainwright has reaffirmed its buy rating on Ascendis Pharma (NASDAQ: ASND) and kept its target price at $345 per share. The analyst attributes $69 of the target, or 20%, to the company's YUVIWEL product, which the firm values at roughly $17 per share based on a 25% U.S. sales mix for VOXZOGO.
Ascendis reported second‑quarter 2026 results that beat expectations, posting earnings per share of $2.83 against Wall Street's $1.51 forecast and revenue of $339.3 million versus the estimated $326.5 million. The company posted 113% revenue growth over the trailing twelve months and a gross profit margin of 91%, according to InvestingPro data.
The broker highlighted a pending U.S. International Trade Commission (ITC) case. The ITC delayed its final initial determination from August 14, 2026 to October 1, 2026, with a definitive action date set for February 1, 2027. A subsequent 60‑day presidential review could push resolution to early April 2027. H.C. Wainwright estimates the ITC impact to be well below $17 per share because the ruling would only affect new U.S. starts and would preserve treatment for existing patients.
Ascendis recently reached a global agreement with BioMarin Pharmaceutical to resolve patent disputes over YUVIWEL. Under the deal, Ascendis will pay royalties on U.S. and other regional sales until the BioMarin RE'267 patent expires in May 2030, ending the worst‑case disruption scenario.
Other analysts have adjusted their outlooks as well. Jefferies raised its price target, while BMO Capital initiated coverage with an "outperform" rating, noting multiple FDA approvals secured by Ascendis. The consensus reflects confidence in the company's growth trajectory despite the pending trade‑commission proceedings.
