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Raymond James analyst Martin Auster downgrades Ascendis Pharma (NASDAQ:ASND) from Strong Buy to Outperform and maintains the price target from $287 to $287.
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Ascendis Pharma A/S (NASDAQ:ASND) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion recommending marketing authorization
BioMarin Pharmaceutical announced it is discontinuing development of Voxzogo for Noonan syndrome due to study feasibility and treatment landscape concerns, though not due to safety or efficacy issues. Despite this setback, Voxzogo generated $472 million in first-half 2026 sales (up 9% YoY) and is on track to achieve blockbuster status with expected 2026 sales of $1.00-$1.05 billion. The drug faces increasing competition from Ascendis Pharma's Yuviwel and BridgeBio's infigratinib, though BioMarin secured a royalty-bearing settlement with Ascendis.
Ascendis Pharma shares dip as it reclaims TransCon technology rights from Novo Nordisk and initiates a $400 million share repurchase program.