Ascendis Pharma A/S (NASDAQ:ASND) Price Target Cut to $174.00

Ascendis Pharma A/S (NASDAQ:ASND) had its price target lowered by JPMorgan Chase & Co. from $180.00 to $174.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

Several other research analysts have also recently issued reports on the stock. TD Cowen increased their target price on shares of Ascendis Pharma A/S from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company increased their price target on shares of Ascendis Pharma A/S from $264.00 to $289.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $170.00 price target on shares of Ascendis Pharma A/S in a research report on Monday, September 16th. Oppenheimer reissued an “outperform” rating and set a $190.00 price target (up from $180.00) on shares of Ascendis Pharma A/S in a research report on Tuesday, September 17th. Finally, Bank of America increased their price target on shares of Ascendis Pharma A/S from $175.00 to $191.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $195.92.

Ascendis Pharma A/S Price Performance

Shares of Ascendis Pharma A/S stock opened at $130.32 on Wednesday. Ascendis Pharma A/S has a 1 year low of $85.70 and a 1 year high of $161.00. The firm’s 50-day moving average is $134.73 and its two-hundred day moving average is $134.52. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of -13.56 and a beta of 0.64.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its earnings results on Tuesday, September 3rd. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($0.51). The business had revenue of $38.75 million for the quarter, compared to the consensus estimate of $94.74 million. On average, equities analysts expect that Ascendis Pharma A/S will post -7.2 earnings per share for the current year.

Hedge Funds Weigh In On Ascendis Pharma A/S

Several hedge funds and other institutional investors have recently modified their holdings of ASND. Price T Rowe Associates Inc. MD raised its position in shares of Ascendis Pharma A/S by 23.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,781,926 shares of the biotechnology company’s stock valued at $269,374,000 after purchasing an additional 336,976 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Ascendis Pharma A/S by 1,461.1% in the 1st quarter. Acadian Asset Management LLC now owns 250,492 shares of the biotechnology company’s stock valued at $37,849,000 after purchasing an additional 234,446 shares during the last quarter. Avoro Capital Advisors LLC raised its position in shares of Ascendis Pharma A/S by 5.8% in the 2nd quarter. Avoro Capital Advisors LLC now owns 4,196,661 shares of the biotechnology company’s stock valued at $572,341,000 after purchasing an additional 229,995 shares during the last quarter. Fred Alger Management LLC raised its position in Ascendis Pharma A/S by 65.0% during the 2nd quarter. Fred Alger Management LLC now owns 307,073 shares of the biotechnology company’s stock worth $41,879,000 after buying an additional 120,952 shares during the last quarter. Finally, Tri Locum Partners LP raised its position in Ascendis Pharma A/S by 102.1% during the 2nd quarter. Tri Locum Partners LP now owns 227,762 shares of the biotechnology company’s stock worth $31,062,000 after buying an additional 115,092 shares during 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.