Ascendis Pharma A/S (NASDAQ:ASND) Sets New 1-Year High Following Analyst Upgrade

Key Points

• Ascendis Pharma A/S shares reached a new 52-week high of $202.79 after Bank of America raised its price target from $227.00 to $230.00, maintaining a buy rating.
• Other analysts, including Royal Bank Of Canada and Wells Fargo, have also raised their price targets, contributing to a consensus target of $244.36 and a general rating of "Buy" from 15 analysts.
• The company reported earnings of ($0.93) EPS, surpassing analysts' expectations, with revenue reaching $216.28 million against an anticipated $163.17 million.

Shares of Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $227.00 to $230.00. Bank of America currently has a buy rating on the stock. Ascendis Pharma A/S traded as high as $202.79 and last traded at $202.48, with a volume of 106130 shares. The stock had previously closed at $194.27.

A number of other brokerages also recently issued reports on ASND. JPMorgan Chase & Co. raised their price target on shares of Ascendis Pharma A/S from $254.00 to $260.00 and gave the stock an "overweight" rating in a report on Tuesday, August 19th. Stifel Nicolaus boosted their price target on shares of Ascendis Pharma A/S from $212.00 to $254.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. UBS Group reaffirmed a "buy" rating and issued a $307.00 price target (up previously from $306.00) on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $295.00 price target (up previously from $289.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Finally, Citigroup restated a "buy" rating and issued a $290.00 target price (up from $243.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Fifteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ascendis Pharma A/S currently has a consensus rating of "Buy" and a consensus price target of $244.36.

Institutional Investors Weigh In On Ascendis Pharma A/S

Several large investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Ascendis Pharma A/S during the 4th quarter worth $28,000. Compagnie Lombard Odier SCmA bought a new stake in Ascendis Pharma A/S in the second quarter worth approximately $39,000. First Horizon Advisors Inc. bought a new stake in Ascendis Pharma A/S in the second quarter worth approximately $41,000. Brooklyn Investment Group increased its holdings in shares of Ascendis Pharma A/S by 332.9% during the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock valued at $55,000 after acquiring an additional 273 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Ascendis Pharma A/S by 291.1% during 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 in the last quarter.

Ascendis Pharma A/S Stock Up 3.9%

The company has a 50-day simple moving average of $182.68 and a two-hundred day simple moving average of $167.87. The firm has a market cap of $12.60 billion, a PE ratio of -39.91 and a beta of 0.39.

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

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.