Ascendis Pharma A/S (NASDAQ:ASND) Earns Overweight Rating from Analysts at Barclays

Barclays assumed coverage on shares of Ascendis Pharma A/S (NASDAQ:ASND) in a report issued on Tuesday, MarketBeat reports. The brokerage issued an overweight rating and a $342.00 target price on the biotechnology company’s stock.

Several other brokerages have also recently issued reports on ASND. JPMorgan Chase & Co. lifted their price objective on shares of Ascendis Pharma A/S from $260.00 to $264.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Royal Bank Of Canada lifted their price target on shares of Ascendis Pharma A/S from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Wells Fargo & Company upped their price target on Ascendis Pharma A/S from $322.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ascendis Pharma A/S in a research report on Wednesday, January 21st. Finally, Wolfe Research began coverage on Ascendis Pharma A/S in a report on Tuesday, November 18th. They issued a “peer perform” rating and a $255.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $269.00.

Ascendis Pharma A/S Stock Performance

ASND opened at $223.95 on Tuesday. The company has a market capitalization of $13.88 billion, a PE ratio of -50.44, a P/E/G ratio of 1.18 and a beta of 0.46. The stock’s fifty day moving average is $211.86 and its 200-day moving average is $200.96. Ascendis Pharma A/S has a one year low of $118.03 and a one year high of $242.00.

Ascendis Pharma A/S (NASDAQ:ASND) last released its earnings results on Thursday, November 13th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.76). The company had revenue of $250.71 million during the quarter, compared to analysts’ expectations of $246.91 million. On average, equities research analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Institutional Trading of Ascendis Pharma A/S

A number of hedge funds have recently modified their holdings of the business. Advisory Services Network LLC purchased a new position in shares of Ascendis Pharma A/S during the third quarter valued at $26,000. First Horizon Advisors Inc. purchased a new stake in Ascendis Pharma A/S in the 2nd quarter worth about $41,000. Jones Financial Companies Lllp boosted its position in Ascendis Pharma A/S by 57.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 83 shares during the period. Hantz Financial Services Inc. grew its stake in Ascendis Pharma A/S by 291.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 352 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 262 shares in the last quarter. Finally, Quadrant Capital Group LLC acquired a new position in shares of Ascendis Pharma A/S in the 3rd quarter valued at about $74,000.

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.