Ascendis Pharma A/S (NASDAQ:ASND) Price Target Cut to $264.00 by Analysts at Wells Fargo & Company

Ascendis Pharma A/S (NASDAQ:ASND) had its price objective cut by equities research analysts at Wells Fargo & Company from $277.00 to $264.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 118.96% from the stock’s current price.

Several other research analysts have also weighed in on ASND. StockNews.com lowered shares of Ascendis Pharma A/S from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. TD Cowen raised shares of Ascendis Pharma A/S from a “hold” rating to a “buy” rating and raised their target price for the company from $156.00 to $175.00 in a research note on Tuesday, June 25th. Jefferies Financial Group raised their target price on shares of Ascendis Pharma A/S from $174.00 to $196.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Stifel Nicolaus initiated coverage on shares of Ascendis Pharma A/S in a research report on Friday, May 31st. They set a “buy” rating and a $200.00 price objective for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Ascendis Pharma A/S from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ascendis Pharma A/S currently has an average rating of “Moderate Buy” and a consensus price target of $184.91.

Ascendis Pharma A/S Price Performance

Shares of NASDAQ ASND traded down $14.11 during mid-day trading on Wednesday, hitting $120.57. The company’s stock had a trading volume of 483,117 shares, compared to its average volume of 373,785. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of -12.55 and a beta of 0.63. Ascendis Pharma A/S has a one year low of $85.29 and a one year high of $161.00. The company’s fifty day simple moving average is $135.32 and its 200-day simple moving average is $138.73.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ASND. Quarry LP boosted its holdings in Ascendis Pharma A/S by 257.1% in the second quarter. Quarry LP now owns 2,500 shares of the biotechnology company’s stock valued at $341,000 after acquiring an additional 1,800 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Ascendis Pharma A/S by 54.6% during the 2nd quarter. Algert Global LLC now owns 2,180 shares of the biotechnology company’s stock worth $297,000 after buying an additional 770 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Ascendis Pharma A/S during the 2nd quarter worth approximately $2,762,000. Fred Alger Management LLC boosted its holdings in shares of Ascendis Pharma A/S by 65.0% during the 2nd quarter. Fred Alger Management LLC now owns 307,073 shares of the biotechnology company’s stock worth $41,879,000 after buying an additional 120,952 shares in the last quarter. Finally, First Light Asset Management LLC bought a new position in shares of Ascendis Pharma A/S during the 2nd quarter worth approximately $4,931,000.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S, a biopharmaceutical company, focuses on developing therapies for unmet medical needs. It offers SKYTROFA for treating patients with growth hormone deficiency (GHD). The company is also developing a pipeline of three independent endocrinology rare disease product candidates in clinical development, as well as focuses on advancing oncology therapeutic candidates.