Cantor Fitzgerald Issues Positive Forecast for Ascendis Pharma A/S (NASDAQ:ASND) Stock Price

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 target price raised by stock analysts at Cantor Fitzgerald from $200.00 to $203.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. Cantor Fitzgerald's price objective would suggest a potential upside of 10.88% from the stock's current price.

Several other research analysts also recently weighed in on ASND. Citigroup upped their price target on Ascendis Pharma A/S from $213.00 to $243.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company reiterated an "overweight" rating and set a $295.00 target price (up from $289.00) on shares of Ascendis Pharma A/S 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 report on Friday, May 2nd. Evercore ISI raised their target price on shares of Ascendis Pharma A/S from $260.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Bank of America raised their target price on shares of Ascendis Pharma A/S from $201.00 to $216.00 and gave the company a "buy" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Ascendis Pharma A/S presently has an average rating of "Moderate Buy" and a consensus target price of $227.40.

Ascendis Pharma A/S Stock Performance

Shares of ASND traded down $7.27 during trading hours on Friday, hitting $183.08. The company had a trading volume of 657,480 shares, compared to its average volume of 487,976. The firm has a fifty day moving average price of $173.47 and a 200-day moving average price of $158.42. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of -29.43 and a beta of 0.41. Ascendis Pharma A/S has a 52-week low of $111.09 and a 52-week high of $199.99.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its quarterly earnings results 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 business had revenue of $216.28 million for the quarter, compared to analysts' expectations of $163.17 million. Research analysts anticipate that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ASND. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ascendis Pharma A/S during the 4th quarter worth approximately $28,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Ascendis Pharma A/S in the 2nd quarter valued at approximately $39,000. First Horizon Advisors Inc. acquired a new stake in shares of Ascendis Pharma A/S in the 2nd quarter valued at approximately $41,000. Brooklyn Investment Group lifted its holdings 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 buying an additional 273 shares during the period. Finally, Hantz Financial Services Inc. raised 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 purchasing an additional 262 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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