Ascendis Pharma A/S (NASDAQ:ASND) Price Target Raised to $292.00

Key Points

• Bank of America raised its price target on Ascendis Pharma from $262 to $292, maintaining a "buy" rating and implying roughly a 22.6% upside from the stock's then-price.
• Analyst consensus is a "Moderate Buy" with an average price target of about $291.56, and several firms have set targets as high as $332.
• Shares traded at $238.28 (-1.4%) on the day; the company reported quarterly EPS of -$0.64 (missing estimates of -$0.06) while revenue of $290.4M slightly beat expectations, and the stock has a market cap of $14.86B with a 52-week range of $150.89–$250.74.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) had its price objective boosted by equities researchers at Bank of America from $262.00 to $292.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the biotechnology company's stock. Bank of America's price target would indicate a potential upside of 22.55% from the company's current price.

A number of other analysts have also weighed in on the stock. Evercore reiterated an "outperform" rating and issued a $324.00 price target on shares of Ascendis Pharma A/S in a research note on Monday, March 2nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Ascendis Pharma A/S in a research note on Monday, March 2nd. Jefferies Financial Group assumed coverage on shares of Ascendis Pharma A/S in a research note on Monday, March 16th. They issued a "buy" rating and a $290.00 price target on the stock. Wedbush reiterated an "outperform" rating and issued a $273.00 price target on shares of Ascendis Pharma A/S in a research note on Thursday, April 9th. Finally, Stifel Nicolaus set a $332.00 price target on shares of Ascendis Pharma A/S in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $291.56.

Ascendis Pharma A/S Stock Down 1.4%

NASDAQ:ASND traded down $3.44 on Thursday, reaching $238.28. 25,583 shares of the company's stock were exchanged, compared to its average volume of 664,605. The firm has a market capitalization of $14.86 billion, a price-to-earnings ratio of -54.05 and a beta of 0.49. The business has a fifty day moving average of $228.93 and a 200-day moving average of $216.28. Ascendis Pharma A/S has a 52-week low of $150.89 and a 52-week high of $250.74.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its earnings results on Thursday, February 12th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.58). The company had revenue of $290.38 million for the quarter, compared to analysts' expectations of $285.35 million. As a group, equities analysts anticipate that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

Institutional Investors Weigh In On Ascendis Pharma A/S

Several institutional investors have recently made changes to their positions in the stock. ARS Investment Partners LLC boosted its position in shares of Ascendis Pharma A/S by 20.0% during the 1st quarter. ARS Investment Partners LLC now owns 209,456 shares of the biotechnology company's stock worth $47,909,000 after purchasing an additional 34,845 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Ascendis Pharma A/S by 17.7% during the 4th quarter. Corient Private Wealth LLC now owns 3,393 shares of the biotechnology company's stock worth $724,000 after buying an additional 510 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Ascendis Pharma A/S during the 4th quarter worth $42,000. Seven Fleet Capital Management LP acquired a new position in shares of Ascendis Pharma A/S during the 4th quarter worth $1,209,000. Finally, Dorsey Wright & Associates raised its stake in shares of Ascendis Pharma A/S by 3.2% during the 4th quarter. Dorsey Wright & Associates now owns 8,504 shares of the biotechnology company's stock worth $1,813,000 after buying an additional 263 shares during the last quarter.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S is a Denmark‐based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long‐acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company's lead product, lonapegsomatropin (Skytrofa®), is a once‐weekly growth hormone therapy approved by the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.