JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Ascendis Pharma A/S (NASDAQ:ASND) Stock

Key Points

• JPMorgan Chase & Co. has increased its price target for Ascendis Pharma A/S from $260.00 to $264.00, indicating a potential upside of 23.89% from the current stock price.
• Ascendis Pharma's stock currently holds an average rating of "Moderate Buy" from analysts, with 15 ratings for Buy and 1 for Sell, and an average target price of $244.64.
• The company reported a better-than-expected quarterly EPS of ($0.93), surpassing analysts' estimates by $0.49 and achieving revenue of $216.28 million.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $260.00 to $264.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 23.89% from the stock's current price.

Several other equities analysts also recently commented on ASND. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ascendis Pharma A/S in a report on Wednesday. Stifel Nicolaus increased their price target on Ascendis Pharma A/S from $212.00 to $254.00 and gave the company a "buy" rating in a report on Friday, August 8th. Cowen reiterated a "buy" rating on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Bank of America increased their price objective on Ascendis Pharma A/S from $227.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Finally, Citigroup reissued a "buy" rating and issued a $290.00 price objective (up from $243.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Fifteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $244.64.

Ascendis Pharma A/S Price Performance

NASDAQ:ASND traded up $2.96 during mid-day trading on Thursday, reaching $213.09. The stock had a trading volume of 15,841 shares, compared to its average volume of 479,733. The business's 50 day moving average is $195.50 and its 200 day moving average is $174.99. Ascendis Pharma A/S has a fifty-two week low of $118.03 and a fifty-two week high of $214.71. The stock has a market cap of $13.15 billion, a P/E ratio of -41.31 and a beta of 0.41.

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

Institutional Trading of Ascendis Pharma A/S

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whalen Wealth Management Inc. acquired a new stake in Ascendis Pharma A/S in the third quarter worth about $919,000. GAMMA Investing LLC lifted its holdings in shares of Ascendis Pharma A/S by 15.2% during the 3rd quarter. GAMMA Investing LLC now owns 735 shares of the biotechnology company's stock valued at $146,000 after purchasing an additional 97 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Ascendis Pharma A/S by 0.6% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 12,186 shares of the biotechnology company's stock valued at $2,103,000 after purchasing an additional 73 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Ascendis Pharma A/S during the 2nd quarter valued at about $897,000. Finally, Headlands Technologies LLC bought a new stake in Ascendis Pharma A/S in the 2nd quarter valued at approximately $206,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.