Royal Bank Of Canada Boosts Ascendis Pharma A/S (NASDAQ:ASND) Price Target to $230.00

Key Points

• The Royal Bank of Canada has increased its price target for Ascendis Pharma A/S (NASDAQ:ASND) from $210.00 to $230.00, indicating a potential upside of 21% from the stock's previous close.
• Multiple analysts have rated Ascendis Pharma with high endorsements, with fifteen analysts giving it a buy rating and an average price target of $236.67 across the board.
• Ascendis Pharma reported $216.28 million in revenue for the last quarter, surpassing estimates and contributing to a positive outlook for the biotechnology company.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) had its price target hoisted by equities research analysts at Royal Bank Of Canada from $210.00 to $230.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the biotechnology company's stock. Royal Bank Of Canada's target price indicates a potential upside of 21.00% from the stock's previous close.

A number of other equities analysts have also commented on ASND. Oppenheimer reiterated an "outperform" rating and issued a $224.00 price objective (up previously from $215.00) on shares of Ascendis Pharma A/S in a report on Friday, June 13th. Morgan Stanley began coverage on shares of Ascendis Pharma A/S in a report on Thursday, July 3rd. They issued an "overweight" rating and a $250.00 price objective on the stock. Stifel Nicolaus boosted 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 report on Friday. Bank of America boosted their target price on shares of Ascendis Pharma A/S from $201.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Cantor Fitzgerald boosted their target price on shares of Ascendis Pharma A/S from $200.00 to $203.00 and gave the stock an "overweight" rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $236.67.

Ascendis Pharma A/S Stock Performance

Shares of NASDAQ:ASND traded down $0.27 during midday trading on Friday, hitting $190.08. 1,206,688 shares of the company's stock traded hands, compared to its average volume of 491,352. The company has a market cap of $11.62 billion, a PE ratio of -30.29 and a beta of 0.41. The firm's fifty day moving average price is $173.47 and its two-hundred day moving average price is $158.42. Ascendis Pharma A/S has a twelve month low of $111.09 and a twelve month high of $199.99.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share 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 analyst estimates of $163.17 million. As a group, equities research analysts anticipate that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Ascendis Pharma A/S

Large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ascendis Pharma A/S during the fourth quarter valued at approximately $28,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Ascendis Pharma A/S during the second quarter valued at approximately $39,000. First Horizon Advisors Inc. acquired a new stake in shares of Ascendis Pharma A/S during the second quarter valued at approximately $41,000. Hantz Financial Services Inc. increased its stake in Ascendis Pharma A/S by 291.1% in the 2nd 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 during the period. Finally, Brooklyn Investment Group increased its stake in 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.

Ascendis Pharma A/S Company Profile

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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