Citigroup Forecasts Strong Price Appreciation for Ascendis Pharma A/S (NASDAQ:ASND) Stock

Key Points

• Citigroup has increased its price target for Ascendis Pharma A/S from $243.00 to $290.00, indicating an expected potential upside of 51.44% from the current stock price.
• Multiple analysts have recently raised their price targets for Ascendis Pharma, with UBS Group setting a target of $307.00 and Cantor Fitzgerald enhancing theirs to $203.00.
• Ascendis Pharma's latest quarterly earnings showed an EPS of ($0.93), which exceeded the consensus estimate, with revenues also surpassing expectations at $216.28 million.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) had its price objective lifted by Citigroup from $243.00 to $290.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the biotechnology company's stock. Citigroup's price objective suggests a potential upside of 51.44% from the stock's current price.

ASND has been the topic of a number of other reports. UBS Group upped their price objective on shares of Ascendis Pharma A/S from $306.00 to $307.00 and gave the company a "buy" rating in a research note on Friday. Cantor Fitzgerald upped their price objective on shares of Ascendis Pharma A/S from $200.00 to $203.00 and gave the company an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on shares of Ascendis Pharma A/S from $245.00 to $254.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Stifel Nicolaus upped 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 note on Friday. Finally, Royal Bank Of Canada upped their price objective on shares of Ascendis Pharma A/S from $210.00 to $230.00 and gave the company an "outperform" rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $239.80.

Ascendis Pharma A/S Stock Up 0.6%

NASDAQ ASND traded up $1.14 on Friday, hitting $191.49. The company's stock had a trading volume of 1,554,046 shares, compared to its average volume of 494,671. Ascendis Pharma A/S has a 1-year low of $111.09 and a 1-year high of $199.99. The company's 50-day moving average is $173.47 and its 200 day moving average is $158.42. The firm has a market cap of $11.71 billion, a PE ratio of -30.49 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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.49. The business had revenue of $216.28 million during the quarter, compared to analyst estimates of $163.17 million. On average, equities analysts expect that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its holdings in Ascendis Pharma A/S by 54.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,725,546 shares of the biotechnology company's stock worth $375,226,000 after buying an additional 960,504 shares in the last quarter. Capital International Investors boosted its holdings in Ascendis Pharma A/S by 35.7% during the 4th quarter. Capital International Investors now owns 2,863,249 shares of the biotechnology company's stock worth $394,183,000 after acquiring an additional 753,859 shares during the last quarter. RA Capital Management L.P. grew its stake in shares of Ascendis Pharma A/S by 4.1% in the 4th quarter. RA Capital Management L.P. now owns 10,112,744 shares of the biotechnology company's stock worth $1,392,221,000 after acquiring an additional 402,316 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Ascendis Pharma A/S in the first quarter valued at about $51,029,000. Finally, Vestal Point Capital LP raised its holdings in shares of Ascendis Pharma A/S by 108.0% in the fourth quarter. Vestal Point Capital LP now owns 520,000 shares of the biotechnology company's stock valued at $71,588,000 after purchasing an additional 270,000 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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