Ascendis Pharma A/S (NASDAQ:ASND) Stock Rating Upgraded by Wall Street Zen

Key Points

• Ascendis Pharma A/S has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating growing confidence among analysts.
• The stock currently has a consensus price target of $239.80, with numerous analysts, including Wells Fargo and UBS Group, raising their price targets for the company.
• Ascendis Pharma's earnings report revealed a surprise profit of $0.49 above analysts' expectations, contributing to positive sentiment around the stock.

Wall Street Zen upgraded shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) from a hold rating to a buy rating in a report published on Saturday morning.

Several other analysts have also recently commented on the stock. Oppenheimer reiterated an "outperform" rating and issued a $224.00 price objective (up previously from $215.00) on shares of Ascendis Pharma A/S in a research note on Friday, June 13th. Evercore ISI raised their price target on Ascendis Pharma A/S from $260.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Citigroup raised their price target on Ascendis Pharma A/S from $243.00 to $290.00 and gave the company a "buy" rating in a research report on Friday. Wedbush raised their price target on Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Stifel Nicolaus raised their price target on Ascendis Pharma A/S from $212.00 to $254.00 and gave the company a "buy" rating in a research report on Friday. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $239.80.

Ascendis Pharma A/S Stock Up 0.6%

Shares of NASDAQ ASND traded up $1.14 during mid-day trading on Friday, hitting $191.49. 1,554,046 shares of the company were exchanged, compared to its average volume of 522,543. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of -37.11 and a beta of 0.41. Ascendis Pharma A/S has a 1-year low of $111.09 and a 1-year high of $199.99. The stock has a 50 day simple moving average of $174.03 and a 200-day simple moving average of $159.28.

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

Institutional Trading of Ascendis Pharma A/S

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ascendis Pharma A/S in the 4th quarter valued at about $28,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Ascendis Pharma A/S in the 2nd quarter valued at about $39,000. First Horizon Advisors Inc. acquired a new position in shares of Ascendis Pharma A/S in the 2nd quarter valued at about $41,000. Hantz Financial Services Inc. lifted its stake in shares of Ascendis Pharma A/S by 291.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 352 shares of the biotechnology company's stock valued at $61,000 after purchasing an additional 262 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of Ascendis Pharma A/S by 332.9% in the 1st quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 273 shares in the last quarter.

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.