Wedbush Forecasts Strong Price Appreciation for Ascendis Pharma A/S (NASDAQ:ASND) Stock

Key Points

• Wedbush has raised its price target for Ascendis Pharma A/S from $212.00 to $220.00, indicating a potential upside of 20.20% from its previous close.
• The company received multiple upgrades from various analysts, with Citigroup raising its target to $243.00 and Evercore ISI to $280.00, highlighting strong investor confidence.
• Ascendis Pharma reported an earnings per share of ($0.93) for the last quarter, exceeding estimates, along with a revenue of $216.28 million compared to expectations of $163.17 million.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) had its price target lifted by stock analysts at Wedbush from $212.00 to $220.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the biotechnology company's stock. Wedbush's price objective points to a potential upside of 20.20% from the company's previous close.

ASND has been the topic of a number of other reports. Citigroup increased their price objective on shares of Ascendis Pharma A/S from $213.00 to $243.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Evercore ISI lifted their price target on Ascendis Pharma A/S from $260.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Oppenheimer reissued an "outperform" rating and issued a $224.00 price objective (up from $215.00) on shares of Ascendis Pharma A/S in a report on Friday, June 13th. Cantor Fitzgerald increased their target price on Ascendis Pharma A/S from $200.00 to $203.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Royal Bank Of Canada boosted their price target on Ascendis Pharma A/S from $205.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.33.

Ascendis Pharma A/S Stock Performance

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

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping 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. Equities analysts expect that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Institutional Trading of Ascendis Pharma A/S

A number of institutional investors have recently bought and sold shares of ASND. T. Rowe Price Investment Management Inc. lifted its position in Ascendis Pharma A/S by 54.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,725,546 shares of the biotechnology company's stock worth $375,226,000 after acquiring an additional 960,504 shares during the last quarter. Capital International Investors grew its position in Ascendis Pharma A/S by 35.7% in the fourth quarter. Capital International Investors now owns 2,863,249 shares of the biotechnology company's stock valued at $394,183,000 after acquiring an additional 753,859 shares during the period. RA Capital Management L.P. lifted its holdings in shares of Ascendis Pharma A/S by 4.1% during the fourth quarter. RA Capital Management L.P. now owns 10,112,744 shares of the biotechnology company's stock valued at $1,392,221,000 after acquiring an additional 402,316 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Ascendis Pharma A/S in the 1st quarter valued at $51,029,000. Finally, Vestal Point Capital LP increased its position in shares of Ascendis Pharma A/S by 108.0% during the 4th quarter. Vestal Point Capital LP now owns 520,000 shares of the biotechnology company's stock worth $71,588,000 after purchasing an additional 270,000 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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