JPMorgan Chase & Co. Increases Ascendis Pharma A/S (NASDAQ:ASND) Price Target to $260.00

Key Points

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Ascendis Pharma A/S (NASDAQ:ASND - Free Report) had its price objective increased by JPMorgan Chase & Co. from $254.00 to $260.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company's stock.

Other equities analysts have also issued research reports about the company. Wedbush increased their target price on Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Wall Street Zen raised Ascendis Pharma A/S from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Bank of America increased their target price on 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. 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. Finally, Cowen reaffirmed a "buy" rating on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Fifteen analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ascendis Pharma A/S currently has a consensus rating of "Buy" and an average price target of $243.36.

Ascendis Pharma A/S Trading Up 0.8%

Shares of ASND traded up $1.50 during trading hours on Tuesday, hitting $194.30. 308,107 shares of the stock traded hands, compared to its average volume of 572,249. Ascendis Pharma A/S has a 1-year low of $111.09 and a 1-year high of $199.99. The firm has a market capitalization of $11.89 billion, a PE ratio of -37.66 and a beta of 0.41. The business has a fifty day moving average of $178.20 and a 200-day moving average of $163.71.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ASND. Perceptive Advisors LLC bought a new position in shares of Ascendis Pharma A/S during the 2nd quarter worth approximately $166,367,000. T. Rowe Price Investment Management Inc. lifted its holdings in 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 last quarter. RA Capital Management L.P. lifted its holdings in 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 last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Ascendis Pharma A/S during the 1st quarter worth approximately $51,029,000. Finally, Vestal Point Capital LP lifted its holdings in 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 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.