Ascendis Pharma A/S (NASDAQ:ASND) Stock Price Expected to Rise, Bank of America Analyst Says

Ascendis Pharma A/S (NASDAQ:ASND) had its target price raised by analysts at Bank of America from $246.00 to $260.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Bank of America‘s price objective suggests a potential upside of 16.10% from the company’s previous close.

Other research analysts also recently issued reports about the company. Wedbush restated an “outperform” rating and set a $220.00 target price on shares of Ascendis Pharma A/S in a research note on Tuesday, November 18th. Stifel Nicolaus raised their price target on Ascendis Pharma A/S from $254.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Wall Street Zen downgraded shares of Ascendis Pharma A/S from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ascendis Pharma A/S in a research report on Wednesday, November 26th. Finally, TD Cowen reiterated a “buy” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Ascendis Pharma A/S has a consensus rating of “Buy” and an average price target of $270.76.

Ascendis Pharma A/S Stock Performance

NASDAQ:ASND opened at $223.95 on Friday. The company’s 50-day simple moving average is $211.86 and its 200-day simple moving average is $200.96. Ascendis Pharma A/S has a fifty-two week low of $118.03 and a fifty-two week high of $242.00. The stock has a market capitalization of $13.88 billion, a P/E ratio of -50.44, a P/E/G ratio of 1.18 and a beta of 0.46.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its earnings results on Thursday, November 13th. The biotechnology company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.76). The company had revenue of $250.71 million for the quarter, compared to the consensus estimate of $246.91 million. On average, research analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Institutional Trading of Ascendis Pharma A/S

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its holdings in Ascendis Pharma A/S by 4.0% in the second quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company’s stock valued at $249,000 after purchasing an additional 55 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ascendis Pharma A/S by 1.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,081 shares of the biotechnology company’s stock valued at $1,209,000 after buying an additional 58 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Ascendis Pharma A/S by 15.1% in the 4th quarter. Farther Finance Advisors LLC now owns 550 shares of the biotechnology company’s stock valued at $117,000 after buying an additional 72 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Ascendis Pharma A/S by 0.6% in the second quarter. China Universal Asset Management Co. Ltd. now owns 12,186 shares of the biotechnology company’s stock worth $2,103,000 after buying an additional 73 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Ascendis Pharma A/S by 57.2% during the third quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 83 shares during the period.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S is a Denmark‐based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long‐acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company’s lead product, lonapegsomatropin (Skytrofa®), is a once‐weekly growth hormone therapy approved by the U.S.