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

Ascendis Pharma A/S (NASDAQ:ASND) had its price objective upped by Bank of America from $246.00 to $260.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Bank of America‘s target price would suggest a potential upside of 16.10% from the company’s current price.

A number of other research firms have also recently commented on ASND. Wells Fargo & Company boosted their price objective on Ascendis Pharma A/S from $322.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ascendis Pharma A/S in a report on Wednesday, January 21st. Barclays initiated coverage on shares of Ascendis Pharma A/S in a report on Tuesday. They set an “overweight” rating and a $342.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $270.76.

Ascendis Pharma A/S Stock Performance

ASND opened at $223.95 on Friday. Ascendis Pharma A/S has a fifty-two week low of $118.03 and a fifty-two week high of $242.00. The company has a fifty day moving average of $211.86 and a two-hundred day moving average of $200.96. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of -50.44, a PEG ratio of 1.18 and a beta of 0.46.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its earnings results on Thursday, November 13th. The biotechnology company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.76). The firm 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 earnings per share for the current year.

Institutional Investors Weigh In On Ascendis Pharma A/S

A number of large investors have recently made changes to their positions in the stock. Braun Stacey Associates Inc. purchased a new position in shares of Ascendis Pharma A/S during the 3rd quarter worth $18,678,000. Sector Gamma AS increased its position in Ascendis Pharma A/S by 43.1% during the third quarter. Sector Gamma AS now owns 24,327 shares of the biotechnology company’s stock worth $4,836,000 after purchasing an additional 7,327 shares during the last quarter. Calamos Advisors LLC purchased a new position in Ascendis Pharma A/S during the third quarter worth about $1,282,000. Allianz Asset Management GmbH raised its stake in Ascendis Pharma A/S by 144.7% during the second quarter. Allianz Asset Management GmbH now owns 9,300 shares of the biotechnology company’s stock worth $1,605,000 after purchasing an additional 5,500 shares during the period. Finally, Kennedy Capital Management LLC boosted its holdings in Ascendis Pharma A/S by 630.5% in the 2nd quarter. Kennedy Capital Management LLC now owns 18,628 shares of the biotechnology company’s stock valued at $3,215,000 after purchasing an additional 16,078 shares during the last quarter.

Ascendis Pharma A/S Company Profile

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.