Ascendis Pharma A/S (NASDAQ:ASND) Receives $244.36 Consensus Target Price from Brokerages

Key Points

• Ascendis Pharma A/S has received a consensus rating of "Buy" from fifteen brokerages, with an average twelve-month price target of $244.36.
• The company reported earnings of ($0.93) per share for the last quarter, surpassing expectations of ($1.42) and achieving revenue of $216.28 million, which also exceeded analysts' forecasts.
• Recent institutional investments include significant stakes from firms like Soleus Capital Management and China Universal Asset Management, indicating growing interest in the company's stock.

Shares of Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) have been given a consensus rating of "Buy" by the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. Fifteen research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $244.3571.

Several research analysts have recently issued reports on ASND shares. Royal Bank Of Canada upped their target price on shares of Ascendis Pharma A/S from $210.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Morgan Stanley started coverage on shares of Ascendis Pharma A/S in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $250.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Ascendis Pharma A/S from $212.00 to $254.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. UBS Group reiterated a "buy" rating and issued a $307.00 target price (up previously from $306.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Finally, Citigroup reissued a "buy" rating and set a $290.00 price objective (up from $243.00) on shares of Ascendis Pharma A/S in a report on Friday, August 8th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. RA Capital Management L.P. raised its holdings in shares of Ascendis Pharma A/S by 1.7% during the first quarter. RA Capital Management L.P. now owns 10,281,496 shares of the biotechnology company's stock valued at $1,602,474,000 after purchasing an additional 168,752 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Ascendis Pharma A/S by 12.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,053,824 shares of the biotechnology company's stock valued at $475,970,000 after purchasing an additional 328,278 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Ascendis Pharma A/S by 1.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,901,843 shares of the biotechnology company's stock valued at $328,258,000 after buying an additional 23,926 shares during the last quarter. Invesco Ltd. increased its holdings in Ascendis Pharma A/S by 3.7% during the first quarter. Invesco Ltd. now owns 1,198,478 shares of the biotechnology company's stock valued at $186,795,000 after buying an additional 42,465 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new stake in Ascendis Pharma A/S during the second quarter valued at approximately $166,367,000.

Ascendis Pharma A/S Price Performance

NASDAQ:ASND traded down $1.69 during mid-day trading on Tuesday, hitting $197.68. 688,058 shares of the company's stock were exchanged, compared to its average volume of 341,201. Ascendis Pharma A/S has a one year low of $118.03 and a one year high of $208.16. The business has a fifty day moving average price of $187.70 and a 200 day moving average price of $171.03. The company has a market cap of $12.10 billion, a PE ratio of -38.31 and a beta of 0.39.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.49. The firm had revenue of $216.28 million during the quarter, compared to the consensus estimate of $163.17 million. On average, equities analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

About Ascendis Pharma A/S

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.