Wedbush Reiterates “Outperform” Rating for Ascendis Pharma A/S (NASDAQ:ASND)

Ascendis Pharma A/S (NASDAQ:ASND)‘s stock had its “outperform” rating reaffirmed by Wedbush in a note issued to investors on Thursday,Benzinga reports. They presently have a $273.00 price target on the biotechnology company’s stock. Wedbush’s price target would suggest a potential upside of 14.09% from the company’s previous close.

A number of other research analysts also recently issued reports on ASND. Weiss Ratings restated a “sell (d-)” rating on shares of Ascendis Pharma A/S in a report on Wednesday, January 21st. Royal Bank Of Canada upped their target price 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. The Goldman Sachs Group restated a “buy” rating and issued a $255.00 price target on shares of Ascendis Pharma A/S in a research note on Monday, March 2nd. Wolfe Research restated an “outperform” rating and issued a $260.00 price target on shares of Ascendis Pharma A/S in a research note on Monday, March 2nd. Finally, Jefferies Financial Group began coverage on Ascendis Pharma A/S in a research report on Monday, March 16th. They issued a “buy” rating and a $290.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ascendis Pharma A/S currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.89.

Ascendis Pharma A/S Stock Performance

NASDAQ:ASND opened at $239.28 on Thursday. The firm has a market capitalization of $14.93 billion, a price-to-earnings ratio of -54.38 and a beta of 0.49. Ascendis Pharma A/S has a 52-week low of $142.18 and a 52-week high of $248.60. The stock has a fifty day moving average of $227.49 and a 200 day moving average of $214.98.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly earnings data on Thursday, February 12th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.58). The firm had revenue of $290.38 million during the quarter, compared to analysts’ expectations of $285.35 million. Equities analysts forecast 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

Institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in shares of Ascendis Pharma A/S during the third quarter worth approximately $26,000. Arax Advisory Partners increased its holdings in Ascendis Pharma A/S by 212.2% during the fourth quarter. Arax Advisory Partners now owns 153 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 104 shares during the period. Leonteq Securities AG purchased a new position in Ascendis Pharma A/S during the fourth quarter valued at approximately $36,000. Caitong International Asset Management Co. Ltd purchased a new position in Ascendis Pharma A/S during the fourth quarter valued at approximately $42,000. Finally, Global Retirement Partners LLC increased its holdings in Ascendis Pharma A/S by 111.9% during the fourth 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 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.