Wedbush Issues Positive Forecast for Ascendis Pharma A/S (NASDAQ:ASND) Stock Price

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

A number of other research firms have also recently weighed in on ASND. Royal Bank Of Canada raised their price target on Ascendis Pharma A/S from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. TD Cowen reissued a “buy” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, January 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ascendis Pharma A/S in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, January 21st. Finally, Wolfe Research assumed coverage on shares of Ascendis Pharma A/S in a research report on Tuesday, November 18th. They issued a “peer perform” rating and a $255.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ascendis Pharma A/S has an average rating of “Buy” and a consensus target price of $280.53.

Ascendis Pharma A/S Stock Down 1.9%

Shares of ASND stock traded down $4.19 during trading hours on Thursday, reaching $217.30. 369,232 shares of the stock traded hands, compared to its average volume of 688,696. The firm has a market capitalization of $13.47 billion, a PE ratio of -48.94 and a beta of 0.44. Ascendis Pharma A/S has a 1-year low of $124.06 and a 1-year high of $242.00. The business has a fifty day moving average price of $214.45 and a 200 day moving average price of $204.39.

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

Hedge Funds Weigh In On Ascendis Pharma A/S

A number of institutional investors and hedge funds have recently made changes to their positions in ASND. Advisory Services Network LLC purchased a new stake in Ascendis Pharma A/S in the third quarter worth approximately $26,000. Leonteq Securities AG purchased a new stake in shares of Ascendis Pharma A/S during the fourth quarter valued at approximately $36,000. Global Retirement Partners LLC raised its holdings in Ascendis Pharma A/S by 111.9% during the 4th quarter. Global Retirement Partners LLC now owns 214 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 113 shares during the last quarter. GW&K Investment Management LLC increased its position in shares of Ascendis Pharma A/S by 75.2% in the fourth quarter. GW&K Investment Management LLC now owns 226 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 97 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of Ascendis Pharma A/S by 57.2% during the third quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 83 shares during the last quarter.

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.