Leerink analyst Joseph Schwartz believes shares of Ascendis Pharma (ASND) could move up or down 20% on Versartis' (VSAR) somavaratan data in September. The data may have important read-through for Ascendis since it may indicate how much of the long-acting growth hormone market TransCon hGH will need to compete for. The analyst notes his base case scenario has Ascendis shares remaining flat or trading slightly down on somavaratan efficacy, which is "noninferior to daily Genotropin and safety which is acceptable." Schwartz reiterates a Market Perform rating on Ascendis with a $28 price target.