UBS Group Reiterates Buy Rating for Ascendis Pharma A/S (NASDAQ:ASND)

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)'s stock had its "buy" rating reiterated by equities researchers at UBS Group in a research report issued to clients and investors on Friday, Marketbeat.com reports. They currently have a $307.00 target price on the biotechnology company's stock, up from their previous target price of $306.00. UBS Group's price target would indicate a potential upside of 56.65% from the stock's previous close.

ASND has been the topic of a number of other research reports. Wells Fargo & Company restated an "overweight" rating and issued a $295.00 target price (up previously from $289.00) on shares of Ascendis Pharma A/S in a report on Friday. Citigroup raised their target price on Ascendis Pharma A/S from $213.00 to $243.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on Ascendis Pharma A/S from $245.00 to $254.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Oppenheimer reiterated an "outperform" rating and issued a $224.00 price target (up from $215.00) on shares of Ascendis Pharma A/S in a research report on Friday, June 13th. Finally, Wedbush lifted their price objective on Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an "outperform" rating in a research note on Friday. Seventeen analysts have rated the stock with a buy rating, According to MarketBeat.com, Ascendis Pharma A/S has a consensus rating of "Buy" and an average target price of $239.80.

Ascendis Pharma A/S Price Performance

Shares of Ascendis Pharma A/S stock traded up $0.01 on Friday, hitting $195.98. 803,613 shares of the company's stock traded hands, compared to its average volume of 497,141. Ascendis Pharma A/S has a one year low of $111.09 and a one year high of $199.99. The company has a fifty day moving average of $174.44 and a two-hundred day moving average of $159.76. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of -37.98 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, topping the consensus estimate of ($1.42) by $0.49. The firm had revenue of $216.28 million during the quarter, compared to the consensus estimate of $163.17 million. Equities research analysts anticipate that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ASND. Rhumbline Advisers lifted its position in Ascendis Pharma A/S by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company's stock valued at $249,000 after acquiring an additional 55 shares in the last quarter. Main Management ETF Advisors LLC raised its holdings in Ascendis Pharma A/S by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 5,864 shares of the biotechnology company's stock worth $1,012,000 after purchasing an additional 96 shares during the period. Virtus ETF Advisers LLC raised its holdings in Ascendis Pharma A/S by 3.9% in the 4th quarter. Virtus ETF Advisers LLC now owns 2,676 shares of the biotechnology company's stock worth $368,000 after purchasing an additional 100 shares during the period. Gilbert & Cook Inc. raised its holdings in Ascendis Pharma A/S by 2.0% in the 2nd quarter. Gilbert & Cook Inc. now owns 6,750 shares of the biotechnology company's stock worth $1,165,000 after purchasing an additional 131 shares during the period. Finally, Chicago Partners Investment Group LLC increased its stake in Ascendis Pharma A/S by 4.5% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 3,732 shares of the biotechnology company's stock worth $635,000 after buying an additional 161 shares in 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.