Citigroup Forecasts Strong Price Appreciation for Ascendis Pharma A/S (NASDAQ:ASND) Stock

Ascendis Pharma A/S (NASDAQ:ASND - Free Report) had its target price boosted by Citigroup from $213.00 to $243.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the biotechnology company's stock.

A number of other brokerages have also issued reports on ASND. Wedbush lifted their target price on shares of Ascendis Pharma A/S from $181.00 to $212.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of Ascendis Pharma A/S from $200.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Royal Bank Of Canada lifted their target price on shares of Ascendis Pharma A/S from $205.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Bank of America lifted their target price on shares of Ascendis Pharma A/S from $201.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Finally, Morgan Stanley started coverage on shares of Ascendis Pharma A/S in a research note on Thursday, July 3rd. They set an "overweight" rating and a $250.00 target price for the company. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $223.07.

Ascendis Pharma A/S Price Performance

NASDAQ ASND traded down $0.08 on Friday, hitting $174.88. 320,522 shares of the stock were exchanged, compared to its average volume of 505,377. Ascendis Pharma A/S has a 52-week low of $111.09 and a 52-week high of $183.00. The company has a market capitalization of $10.69 billion, a price-to-earnings ratio of -27.85 and a beta of 0.38. The company's 50-day moving average price is $168.27 and its two-hundred day moving average price is $153.60.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($1.66) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.10). The business had revenue of $123.97 million for the quarter, compared to analysts' expectations of $98.56 million. Equities analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of Ascendis Pharma A/S by 54.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,725,546 shares of the biotechnology company's stock worth $375,226,000 after purchasing an additional 960,504 shares during the period. Capital International Investors increased its holdings in shares of Ascendis Pharma A/S by 35.7% during the 4th quarter. Capital International Investors now owns 2,863,249 shares of the biotechnology company's stock worth $394,183,000 after purchasing an additional 753,859 shares during the period. RA Capital Management L.P. increased its holdings in shares of Ascendis Pharma A/S by 4.1% during the 4th quarter. RA Capital Management L.P. now owns 10,112,744 shares of the biotechnology company's stock worth $1,392,221,000 after purchasing an additional 402,316 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in shares of Ascendis Pharma A/S during the 1st quarter worth about $51,029,000. Finally, Vestal Point Capital LP increased its holdings in shares of Ascendis Pharma A/S by 108.0% during the 4th quarter. Vestal Point Capital LP now owns 520,000 shares of the biotechnology company's stock worth $71,588,000 after purchasing an additional 270,000 shares during the period.

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.