Ascendis Pharma A/S (NASDAQ:ASND) Price Target Raised to $254.00

Key Points

• JPMorgan Chase & Co. has raised its target price for Ascendis Pharma A/S from $245.00 to $254.00, indicating a potential upside of 56.15% from the current stock price.
• The biotechnology company has received multiple positive ratings from analysts, with a consensus rating of "Moderate Buy" and an average target price of $223.67.
• Ascendis Pharma A/S reported a revenue of $123.97 million in its last quarterly earnings, surpassing analysts' expectations of $98.56 million.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $245.00 to $254.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 45.58% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer reiterated an "outperform" rating and set a $224.00 target price (up previously from $215.00) on shares of Ascendis Pharma A/S in a research report on Friday, June 13th. Evercore ISI increased their target price on shares of Ascendis Pharma A/S from $260.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Wedbush increased their target price on shares of Ascendis Pharma A/S from $181.00 to $212.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Citigroup increased their target price on shares of Ascendis Pharma A/S from $213.00 to $243.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price objective on shares of Ascendis Pharma A/S in a report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $223.67.

Ascendis Pharma A/S Trading Up 0.6%

Shares of Ascendis Pharma A/S stock traded up $0.98 during mid-day trading on Tuesday, reaching $174.48. 260,277 shares of the stock were exchanged, compared to its average volume of 437,818. The company has a market cap of $10.67 billion, a price-to-earnings ratio of -27.78 and a beta of 0.41. The firm has a 50-day simple moving average of $171.44 and a 200 day simple moving average of $156.89. Ascendis Pharma A/S has a fifty-two week low of $111.09 and a fifty-two week high of $183.00.

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

Institutional Trading of Ascendis Pharma A/S

A number of hedge funds have recently modified their holdings of the company. Virtus ETF Advisers LLC raised its position in shares of Ascendis Pharma A/S by 3.9% in the 4th quarter. Virtus ETF Advisers LLC now owns 2,676 shares of the biotechnology company's stock valued at $368,000 after acquiring an additional 100 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of Ascendis Pharma A/S by 4.5% during the second quarter. Chicago Partners Investment Group LLC now owns 3,732 shares of the biotechnology company's stock worth $635,000 after purchasing an additional 161 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Ascendis Pharma A/S by 2.3% during the first quarter. PNC Financial Services Group Inc. now owns 8,578 shares of the biotechnology company's stock worth $1,337,000 after purchasing an additional 195 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ascendis Pharma A/S during the fourth quarter worth about $28,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of Ascendis Pharma A/S during the second quarter worth about $39,000.

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.