Ascendis Pharma A/S (NASDAQ:ASND) Stock Price Expected to Rise, Bank of America Analyst Says

Ascendis Pharma A/S (NASDAQ:ASND) had its price objective lifted by equities research analysts at Bank of America from $246.00 to $260.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Bank of America‘s target price suggests a potential upside of 14.99% from the stock’s previous close.

ASND has been the subject of a number of other research reports. Stifel Nicolaus boosted their target price on shares of Ascendis Pharma A/S from $254.00 to $256.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Wells Fargo & Company upped their target price on Ascendis Pharma A/S from $322.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Ascendis Pharma A/S in a research note on Tuesday, November 18th. Royal Bank Of Canada boosted their price target on Ascendis Pharma A/S from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Finally, Barclays assumed coverage on Ascendis Pharma A/S in a research note on Tuesday. They issued an “overweight” rating and a $342.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $270.76.

Ascendis Pharma A/S Trading Up 1.0%

Shares of NASDAQ ASND opened at $226.10 on Friday. Ascendis Pharma A/S has a 12 month low of $118.03 and a 12 month high of $242.00. The stock has a 50 day moving average of $212.18 and a 200-day moving average of $201.50. The company has a market capitalization of $14.01 billion, a P/E ratio of -50.92, a P/E/G ratio of 1.18 and a beta of 0.46.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its quarterly earnings data 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 firm had revenue of $250.71 million for the quarter, compared to the consensus estimate of $246.91 million. Analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Perceptive Advisors LLC acquired a new position in Ascendis Pharma A/S in the 2nd quarter valued at approximately $166,367,000. Wellington Management Group LLP grew its stake 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 worth $357,645,000 after purchasing an additional 880,836 shares during the last quarter. Principal Financial Group Inc. grew its stake 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 worth $157,791,000 after purchasing an additional 765,561 shares during the last quarter. Vestal Point Capital LP increased its holdings in 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 period. Finally, Spyglass Capital Management LLC bought a new position in Ascendis Pharma A/S during the 3rd quarter worth $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.