Ascendis Pharma A/S (NASDAQ:ASND) Earns Strong-Buy Rating from Analysts at Raymond James Financial

Key Points

• Analysts from Raymond James Financial have initiated coverage on Ascendis Pharma A/S, giving it a "strong-buy" rating and a price target of $271.00, indicating a potential upside of 30.90% from its last close.
• Other firms, including Cowen and Citigroup, have also issued positive ratings and price targets for Ascendis Pharma, reflecting broad optimism among analysts about the company's prospects.
• Ascendis Pharma recently reported a quarterly revenue of $216.28 million, exceeding analysts' expectations, and recorded an earnings per share (EPS) of ($0.93), beating the consensus estimate.

Analysts at Raymond James Financial initiated coverage on shares of Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) in a note issued to investors on Friday. The brokerage set a "strong-buy" rating and a $271.00 price target on the biotechnology company's stock. Raymond James Financial's target price points to a potential upside of 30.90% from the stock's previous close.

Several other research firms have also recently commented on ASND. Cowen reiterated a "buy" rating on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Stifel Nicolaus increased their target price on Ascendis Pharma A/S from $212.00 to $254.00 and gave the company a "buy" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. upped their price target on Ascendis Pharma A/S from $260.00 to $264.00 and gave the company an "overweight" rating in a research report on Thursday, October 9th. Citigroup reissued a "buy" rating and set a $290.00 price target (up from $243.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Finally, Morgan Stanley assumed coverage on Ascendis Pharma A/S in a research report on Thursday, July 3rd. They set an "overweight" rating and a $250.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Ascendis Pharma A/S has a consensus rating of "Moderate Buy" and an average price target of $249.80.

Ascendis Pharma A/S Trading Down 0.0%

Ascendis Pharma A/S stock opened at $207.03 on Friday. The stock has a market cap of $12.77 billion, a P/E ratio of -40.12 and a beta of 0.41. The stock has a 50 day moving average of $198.78 and a 200-day moving average of $177.06. Ascendis Pharma A/S has a 52 week low of $118.03 and a 52 week high of $216.45.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.49. The business had revenue of $216.28 million for the quarter, compared to analysts' expectations of $163.17 million. As a group, equities analysts predict that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ascendis Pharma A/S

Several large investors have recently added to or reduced their stakes in the stock. Burns Matteson Capital Management LLC acquired a new stake in Ascendis Pharma A/S in the third quarter worth $257,000. Farther Finance Advisors LLC increased its position in Ascendis Pharma A/S by 115.3% in the third quarter. Farther Finance Advisors LLC now owns 478 shares of the biotechnology company's stock worth $95,000 after buying an additional 256 shares during the period. Toth Financial Advisory Corp increased its position in Ascendis Pharma A/S by 33.7% in the third quarter. Toth Financial Advisory Corp now owns 595 shares of the biotechnology company's stock worth $118,000 after buying an additional 150 shares during the period. Whalen Wealth Management Inc. acquired a new stake in Ascendis Pharma A/S in the third quarter worth $919,000. Finally, GAMMA Investing LLC grew its stake in shares of Ascendis Pharma A/S by 15.2% in the third quarter. GAMMA Investing LLC now owns 735 shares of the biotechnology company's stock worth $146,000 after purchasing an additional 97 shares in the last quarter.

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.

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