Raymond James Financial Upgrades Ascendis Pharma A/S (NASDAQ:ASND) to "Strong-Buy"

Key Points

• Raymond James Financial has upgraded Ascendis Pharma A/S to a "strong-buy" rating, reflecting increased confidence in the company's stock performance.
• Ascendis Pharma recently reported earnings of ($0.93) EPS, outperforming consensus estimates of ($1.42) EPS, indicating better-than-expected financial performance.
• The stock currently has a consensus rating of "Moderate Buy" among analysts, with various price targets set, the highest being $307.00 by UBS Group.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) was upgraded by stock analysts at Raymond James Financial to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. UBS Group reaffirmed a "buy" rating and issued a $307.00 price target (up previously from $306.00) on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Ascendis Pharma A/S in a research note on Wednesday, October 8th. Cowen reaffirmed a "buy" rating on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Cantor Fitzgerald increased their price target on shares of Ascendis Pharma A/S from $203.00 to $254.00 and gave the stock an "overweight" rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ascendis Pharma A/S from $260.00 to $264.00 and gave the stock an "overweight" rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $249.80.

Ascendis Pharma A/S Stock Performance

Ascendis Pharma A/S stock opened at $210.50 on Thursday. The stock has a market cap of $12.99 billion, a PE ratio of -40.79 and a beta of 0.41. The stock has a 50-day moving average of $199.16 and a two-hundred day moving average of $177.47. Ascendis Pharma A/S has a one year low of $118.03 and a one year high of $216.45.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $216.28 million for the quarter, compared to analyst estimates of $163.17 million. As a group, sell-side analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Institutional Trading of Ascendis Pharma A/S

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of Ascendis Pharma A/S during the 2nd quarter valued at about $39,000. First Horizon Advisors Inc. acquired a new stake in Ascendis Pharma A/S in the second quarter valued at approximately $41,000. Brooklyn Investment Group increased its position in shares of Ascendis Pharma A/S by 332.9% in the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock valued at $55,000 after buying an additional 273 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Ascendis Pharma A/S by 291.1% in the second quarter. Hantz Financial Services Inc. now owns 352 shares of the biotechnology company's stock valued at $61,000 after buying an additional 262 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Ascendis Pharma A/S by 115.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 478 shares of the biotechnology company's stock worth $95,000 after buying an additional 256 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.

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