Ascendis Pharma A/S (NASDAQ:ASND) Given New $203.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has raised its target price for Ascendis Pharma A/S (NASDAQ:ASND) from $200.00 to $203.00, indicating a potential upside of 10.88% from the current price.
• The stock has received multiple positive ratings from other analysts, with a consensus target price of $227.40 and fifteen analysts assigning a buy rating.
• Ascendis Pharma's recent quarterly earnings showcase a significant revenue of $216.28 million, surpassing expectations, and the company reported an EPS of ($0.93), beating the consensus estimate by $0.49.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) had its price target increased by equities research analysts at Cantor Fitzgerald from $200.00 to $203.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. Cantor Fitzgerald's price objective indicates a potential upside of 3.58% from the company's previous close.

A number of other research firms have also weighed in on ASND. Stifel Nicolaus increased their price objective on shares of Ascendis Pharma A/S from $212.00 to $254.00 and gave the stock a "buy" rating in a research report on Friday. Wedbush raised their target price on shares of Ascendis Pharma A/S from $181.00 to $212.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley started coverage on shares of Ascendis Pharma A/S in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $250.00 target price for the company. Citigroup raised their target price on shares of Ascendis Pharma A/S from $213.00 to $243.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Royal Bank Of Canada raised their target price on shares of Ascendis Pharma A/S from $205.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Seventeen research analysts have rated the stock with a buy rating, According to data from MarketBeat, Ascendis Pharma A/S has an average rating of "Buy" and a consensus target price of $239.80.

Ascendis Pharma A/S Stock Performance

NASDAQ:ASND traded up $0.01 during trading hours on Friday, reaching $195.98. The stock had a trading volume of 803,613 shares, compared to its average volume of 497,141. Ascendis Pharma A/S has a 52 week low of $111.09 and a 52 week high of $199.99. The company has a 50 day moving average price of $174.44 and a two-hundred day moving average price of $159.76. The stock has a market capitalization of $11.98 billion, a PE ratio of -37.98 and a beta of 0.41.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $216.28 million during the quarter, compared to the consensus estimate of $163.17 million. Equities research analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Institutional Trading of Ascendis Pharma A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASND. LPL Financial LLC lifted its position in Ascendis Pharma A/S by 60.1% during the fourth quarter. LPL Financial LLC now owns 4,199 shares of the biotechnology company's stock valued at $578,000 after purchasing an additional 1,577 shares during the period. JPMorgan Chase & Co. lifted its position in Ascendis Pharma A/S by 94.4% during the fourth quarter. JPMorgan Chase & Co. now owns 77,427 shares of the biotechnology company's stock valued at $10,659,000 after purchasing an additional 37,593 shares during the period. Geode Capital Management LLC lifted its position in Ascendis Pharma A/S by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 57,077 shares of the biotechnology company's stock valued at $7,858,000 after purchasing an additional 629 shares during the period. Legal & General Group Plc lifted its position in Ascendis Pharma A/S by 1,577.6% during the fourth quarter. Legal & General Group Plc now owns 17,682 shares of the biotechnology company's stock valued at $2,433,000 after purchasing an additional 16,628 shares during the period. Finally, Sterling Capital Management LLC lifted its position in Ascendis Pharma A/S by 19.0% during the fourth quarter. Sterling Capital Management LLC now owns 56,850 shares of the biotechnology company's stock valued at $7,827,000 after purchasing an additional 9,065 shares during the period.

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.