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

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

A number of other research analysts have also weighed in on the stock. Jefferies Financial Group started coverage on shares of Ascendis Pharma A/S in a research note on Monday, March 16th. They issued a “buy” rating and a $290.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Ascendis Pharma A/S in a research note on Monday, March 2nd. TD Cowen reaffirmed a “buy” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, January 7th. Stifel Nicolaus set a $332.00 price target on shares of Ascendis Pharma A/S in a research note on Wednesday, March 4th. Finally, Barclays started coverage on shares of Ascendis Pharma A/S in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $342.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ascendis Pharma A/S presently has an average rating of “Moderate Buy” and a consensus price target of $291.56.

Ascendis Pharma A/S Stock Performance

Shares of NASDAQ ASND opened at $242.95 on Thursday. The stock has a market cap of $15.15 billion, a P/E ratio of -55.22 and a beta of 0.49. The firm has a 50 day moving average price of $229.44 and a 200 day moving average price of $216.47. Ascendis Pharma A/S has a 52-week low of $150.89 and a 52-week high of $250.74.

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

Institutional Trading of Ascendis Pharma A/S

Institutional investors have recently made changes to their positions in the business. Perceptive Advisors LLC acquired a new position in Ascendis Pharma A/S during the second quarter worth $166,367,000. Wellington Management Group LLP increased its holdings in shares of Ascendis Pharma A/S by 95.9% in the third quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company’s stock valued at $357,645,000 after purchasing an additional 880,836 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Ascendis Pharma A/S by 2,722.9% in the third quarter. Principal Financial Group Inc. now owns 793,677 shares of the biotechnology company’s stock valued at $157,791,000 after purchasing an additional 765,561 shares during the last quarter. Vestal Point Capital LP increased its holdings in shares of Ascendis Pharma A/S by 200.0% in the third quarter. Vestal Point Capital LP now owns 600,000 shares of the biotechnology company’s stock valued at $119,286,000 after purchasing an additional 400,000 shares during the last quarter. Finally, Spyglass Capital Management LLC acquired a new position in shares of Ascendis Pharma A/S in the third quarter valued at about $77,267,000.

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.