Bank of America Raises Ascendis Pharma A/S (NASDAQ:ASND) Price Target to $230.00

Key Points

• Bank of America raised its price target for Ascendis Pharma A/S from $227 to $230, maintaining a "buy" rating, suggesting a potential 14.44% upside from the current price.
• Several analysts have rated Ascendis Pharma A/S as a "buy," with a consensus price target of $244.36, indicating strong confidence in the company's stock performance.
• Ascendis Pharma recently reported earnings that beat expectations, with revenue of $216.28 million for the quarter, surpassing analysts' expectations of $163.17 million.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) had its price target lifted by Bank of America from $227.00 to $230.00 in a research note issued on Tuesday,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 11.70% from the company's current price.

Several other analysts also recently commented on the company. Citigroup reiterated a "buy" rating and set a $290.00 target price (up from $243.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. JPMorgan Chase & Co. increased their target price on Ascendis Pharma A/S from $254.00 to $260.00 and gave the company an "overweight" rating in a research note on Tuesday, August 19th. 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. UBS Group restated a "buy" rating and issued a $307.00 price target (up previously from $306.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Finally, Wedbush upped their price target on Ascendis Pharma A/S from $212.00 to $220.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Fifteen investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $244.36.

Ascendis Pharma A/S Stock Performance

Shares of Ascendis Pharma A/S stock traded up $7.78 during midday trading on Tuesday, hitting $205.91. The company had a trading volume of 461,010 shares, compared to its average volume of 487,399. The stock has a market capitalization of $12.60 billion, a P/E ratio of -39.91 and a beta of 0.39. The company has a 50 day moving average of $182.68 and a 200 day moving average of $167.87. Ascendis Pharma A/S has a 52-week low of $111.09 and a 52-week high of $207.00.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.49. The company had revenue of $216.28 million during the quarter, compared to analysts' expectations of $163.17 million. Equities research analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Institutional Investors Weigh In On Ascendis Pharma A/S

A number of hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. lifted its position in shares of Ascendis Pharma A/S by 1.7% in the first quarter. RA Capital Management L.P. now owns 10,281,496 shares of the biotechnology company's stock worth $1,602,474,000 after buying an additional 168,752 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Ascendis Pharma A/S by 4.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,380,382 shares of the biotechnology company's stock worth $602,910,000 after buying an additional 193,688 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Ascendis Pharma A/S by 12.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,053,824 shares of the biotechnology company's stock worth $475,970,000 after buying an additional 328,278 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Ascendis Pharma A/S by 1.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,901,843 shares of the biotechnology company's stock worth $328,258,000 after buying an additional 23,926 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Ascendis Pharma A/S by 3.7% in the first quarter. Invesco Ltd. now owns 1,198,478 shares of the biotechnology company's stock worth $186,795,000 after buying an additional 42,465 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.