Ascendis Pharma A/S (NASDAQ:ASND) Rating Increased to Buy at Wall Street Zen

Key Points

• Ascendis Pharma A/S has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, signaling increased confidence in the stock.
• Numerous brokerages have raised their price targets for Ascendis Pharma, with the average target price now at $249.80, suggesting strong market potential.
• The company reported better-than-expected earnings, with a quarterly revenue of $216.28 million, surpassing analysts' expectations of $163.17 million.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

A number of other brokerages also recently commented on ASND. Stifel Nicolaus boosted their price objective on shares of Ascendis Pharma A/S from $212.00 to $254.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Cantor Fitzgerald boosted their price objective on shares of Ascendis Pharma A/S from $203.00 to $254.00 and gave the company an "overweight" rating in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Ascendis Pharma A/S from $260.00 to $264.00 and gave the company an "overweight" rating in a research report on Thursday, October 9th. Wedbush boosted their price objective on shares of Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Bank of America boosted their price objective on shares of Ascendis Pharma A/S from $227.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ascendis Pharma A/S currently has an average rating of "Moderate Buy" and an average target price of $249.80.

Ascendis Pharma A/S Stock Performance

Shares of ASND opened at $210.50 on Friday. The company's 50 day moving average price is $199.16 and its 200 day moving average price is $177.47. Ascendis Pharma A/S has a 52 week low of $118.03 and a 52 week high of $216.45. The company has a market capitalization of $12.99 billion, a PE ratio of -40.79 and a beta of 0.41.

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 analysts' consensus estimates of ($1.42) by $0.49. The company had revenue of $216.28 million for the quarter, compared to analysts' expectations of $163.17 million. On average, equities analysts forecast that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Institutional Trading of Ascendis Pharma A/S

Institutional investors have recently added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA acquired a new stake in Ascendis Pharma A/S in the second quarter valued at approximately $39,000. First Horizon Advisors Inc. acquired a new stake in shares of Ascendis Pharma A/S in the second quarter worth $41,000. Hantz Financial Services Inc. lifted its stake in shares of Ascendis Pharma A/S by 291.1% in the second quarter. Hantz Financial Services Inc. now owns 352 shares of the biotechnology company's stock worth $61,000 after buying an additional 262 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of Ascendis Pharma A/S by 332.9% in the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock worth $55,000 after buying an additional 273 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Ascendis Pharma A/S by 115.3% in the third quarter. Farther Finance Advisors LLC now owns 478 shares of the biotechnology company's stock worth $95,000 after buying an additional 256 shares during 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.

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