Ascendis Pharma A/S (NASDAQ:ASND) Stock Price Expected to Rise, Wedbush Analyst Says

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 - Free Report) had its target price raised by Wedbush from $212.00 to $220.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company's stock.

Several other research analysts have also recently issued reports on ASND. Royal Bank Of Canada raised their target price on shares of Ascendis Pharma A/S from $205.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Citigroup raised their target price on shares of Ascendis Pharma A/S from $213.00 to $243.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Oppenheimer restated an "outperform" rating and issued a $224.00 target price (up previously from $215.00) on shares of Ascendis Pharma A/S in a report on Friday, June 13th. Stifel Nicolaus raised their target price 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. Finally, 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 target price on the stock. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat, Ascendis Pharma A/S has a consensus rating of "Buy" and an average price target of $239.80.

Ascendis Pharma A/S Trading Up 0.0%

Shares of NASDAQ:ASND traded up $0.01 during trading on Friday, reaching $195.98. The company had a trading volume of 803,613 shares, compared to its average volume of 497,141. The company has a fifty day moving average of $174.44 and a two-hundred day moving average of $159.76. The stock has a market capitalization of $11.98 billion, a P/E ratio of -37.98 and a beta of 0.41. Ascendis Pharma A/S has a 12 month low of $111.09 and a 12 month high of $199.99.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted 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 business had revenue of $216.28 million for the quarter, compared to analysts' expectations of $163.17 million. As a group, equities research analysts predict that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

Institutional Trading of Ascendis Pharma A/S

A number of institutional investors have recently bought and sold shares of the stock. LPL Financial LLC increased its stake in Ascendis Pharma A/S by 60.1% in the fourth quarter. LPL Financial LLC now owns 4,199 shares of the biotechnology company's stock worth $578,000 after purchasing an additional 1,577 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Ascendis Pharma A/S by 94.4% during the fourth quarter. JPMorgan Chase & Co. now owns 77,427 shares of the biotechnology company's stock valued at $10,659,000 after buying an additional 37,593 shares during the period. Geode Capital Management LLC increased its stake in shares of Ascendis Pharma A/S by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 57,077 shares of the biotechnology company's stock valued at $7,858,000 after buying an additional 629 shares during the period. Legal & General Group Plc increased its stake in shares of Ascendis Pharma A/S by 1,577.6% during the fourth quarter. Legal & General Group Plc now owns 17,682 shares of the biotechnology company's stock valued at $2,433,000 after buying an additional 16,628 shares during the period. Finally, Sterling Capital Management LLC increased its stake in shares of Ascendis Pharma A/S by 19.0% during the fourth quarter. Sterling Capital Management LLC now owns 56,850 shares of the biotechnology company's stock valued at $7,827,000 after buying an additional 9,065 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.