Ascendis Pharma A/S (NASDAQ:ASND) Price Target Raised to $273.00 at Wedbush

Ascendis Pharma A/S (NASDAQ:ASND) had its price target raised by stock analysts at Wedbush from $240.00 to $273.00 in a research note issued on Thursday, Marketbeat reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Wedbush’s target price would suggest a potential upside of 25.63% from the company’s previous close.

A number of other analysts have also issued reports on ASND. Morgan Stanley reissued an “overweight” rating and set a $256.00 target price on shares of Ascendis Pharma A/S in a research note on Thursday. Royal Bank Of Canada raised their target price on Ascendis Pharma A/S from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Raymond James Financial began coverage on Ascendis Pharma A/S in a research note on Friday, October 17th. They issued a “strong-buy” rating and a $271.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, November 26th. Finally, Oppenheimer reiterated an “outperform” rating and set a $262.00 target price on shares of Ascendis Pharma A/S in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $280.53.

Ascendis Pharma A/S Stock Performance

Shares of NASDAQ ASND traded down $4.19 during midday trading on Thursday, hitting $217.30. 369,232 shares of the stock traded hands, compared to its average volume of 688,696. The firm has a 50-day moving average of $214.45 and a two-hundred day moving average of $204.39. The firm has a market capitalization of $13.47 billion, a P/E ratio of -48.94 and a beta of 0.44. Ascendis Pharma A/S has a one year low of $124.06 and a one year high of $242.00.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its quarterly earnings results on Thursday, November 13th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.76). The business had revenue of $250.71 million for the quarter, compared to analyst estimates of $246.91 million. Equities analysts forecast that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ascendis Pharma A/S

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in Ascendis Pharma A/S by 4.0% in the second quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company’s stock valued at $249,000 after purchasing an additional 55 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ascendis Pharma A/S by 1.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,081 shares of the biotechnology company’s stock worth $1,209,000 after acquiring an additional 58 shares during the last quarter. Certuity LLC boosted its position in Ascendis Pharma A/S by 5.7% during the 4th quarter. Certuity LLC now owns 1,170 shares of the biotechnology company’s stock valued at $249,000 after purchasing an additional 63 shares during the period. Farther Finance Advisors LLC grew its position in shares of Ascendis Pharma A/S by 15.1% during the fourth quarter. Farther Finance Advisors LLC now owns 550 shares of the biotechnology company’s stock worth $117,000 after acquiring an additional 72 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Ascendis Pharma A/S by 0.6% in the second quarter. China Universal Asset Management Co. Ltd. now owns 12,186 shares of the biotechnology company’s stock valued at $2,103,000 after purchasing an additional 73 shares during the period.

About Ascendis Pharma A/S

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.