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

Key Points

• UBS Group has raised its price target for Ascendis Pharma A/S from $306.00 to $307.00, indicating a potential upside of 67.74% from the stock's current price.
• Ascendis Pharma A/S reported earnings of ($0.93) per share, surpassing the consensus estimate of ($1.42) by $0.49, with revenues of $216.28 million for the quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for Ascendis Pharma A/S, with the average price target sitting at $235.33.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) had its price objective increased by equities researchers at UBS Group from $306.00 to $307.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the biotechnology company's stock. UBS Group's price objective points to a potential upside of 67.74% from the stock's current price.

A number of other research firms have also recently issued reports on ASND. Bank of America lifted 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 research note on Monday, June 9th. Morgan Stanley initiated 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 target for the company. Stifel Nicolaus boosted their price target on Ascendis Pharma A/S from $212.00 to $254.00 and gave the stock a "buy" rating in a research report on Friday. Evercore ISI upped their price target on shares of Ascendis Pharma A/S from $260.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Oppenheimer reiterated an "outperform" rating and set a $224.00 price target (up previously from $215.00) on shares of Ascendis Pharma A/S in a research report on Friday, June 13th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $235.33.

Ascendis Pharma A/S Price Performance

ASND traded down $7.33 during trading on Friday, reaching $183.03. 772,218 shares of the stock traded hands, compared to its average volume of 489,106. The stock's 50-day simple moving average is $173.47 and its two-hundred day simple moving average is $158.42. Ascendis Pharma A/S has a fifty-two week low of $111.09 and a fifty-two week high of $199.99. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of -29.14 and a beta of 0.41.

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 company had revenue of $216.28 million for the quarter, compared to the consensus estimate 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 and other institutional investors have recently made changes to their positions in the business. RA Capital Management L.P. raised its position in shares of Ascendis Pharma A/S by 1.7% during the first quarter. RA Capital Management L.P. now owns 10,281,496 shares of the biotechnology company's stock worth $1,602,474,000 after purchasing an additional 168,752 shares during the period. Avoro Capital Advisors LLC raised its stake in shares of Ascendis Pharma A/S by 2.3% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,103,055 shares of the biotechnology company's stock valued at $702,538,000 after purchasing an additional 114,167 shares during the period. Janus Henderson Group PLC boosted its holdings in Ascendis Pharma A/S by 4.6% in the 4th quarter. Janus Henderson Group PLC now owns 4,380,382 shares of the biotechnology company's stock valued at $602,910,000 after purchasing an additional 193,688 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Ascendis Pharma A/S by 12.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,053,824 shares of the biotechnology company's stock valued at $475,970,000 after purchasing an additional 328,278 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Ascendis Pharma A/S by 35.7% during the fourth 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 in the last quarter.

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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