Ascendis Pharma A/S (NASDAQ:ASND) Price Target Raised to $292.00

Ascendis Pharma A/S (NASDAQ:ASND) had its price objective hoisted by Bank of America from $262.00 to $292.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company boosted their target price on Ascendis Pharma A/S from $322.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada upped their price target on Ascendis Pharma A/S from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 target price on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Stifel Nicolaus set a $332.00 target price on Ascendis Pharma A/S in a report on Wednesday, March 4th. Finally, Wolfe Research reiterated an “outperform” rating and set a $260.00 target price on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $291.56.

Ascendis Pharma A/S Stock Performance

Ascendis Pharma A/S stock opened at $244.48 on Thursday. The company has a market capitalization of $15.25 billion, a P/E ratio of -55.56 and a beta of 0.49. Ascendis Pharma A/S has a fifty-two week low of $150.89 and a fifty-two week high of $250.74. The stock has a 50-day simple moving average of $229.89 and a 200-day simple moving average of $216.96.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its quarterly earnings results on Thursday, February 12th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.58). The company had revenue of $290.38 million during the quarter, compared to analysts’ expectations of $285.35 million. As a group, analysts forecast that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ASND. Advisory Services Network LLC purchased a new position in shares of Ascendis Pharma A/S in the 3rd quarter worth $26,000. Arax Advisory Partners raised its position in shares of Ascendis Pharma A/S by 212.2% in the 4th quarter. Arax Advisory Partners now owns 153 shares of the biotechnology company’s stock worth $33,000 after buying an additional 104 shares during the period. Leonteq Securities AG purchased a new position in shares of Ascendis Pharma A/S in the 4th quarter worth $36,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ascendis Pharma A/S in the 4th quarter worth $42,000. Finally, Jones Financial Companies Lllp raised its position in shares of Ascendis Pharma A/S by 57.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock worth $44,000 after buying an additional 83 shares during the period.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S is a Denmark?based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long?acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company’s lead product, lonapegsomatropin (Skytrofa®), is a once?weekly growth hormone therapy approved by the U.S.