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

Wedbush reaffirmed their outperform rating on shares of Ascendis Pharma A/S (NASDAQ:ASND) in a report issued on Friday morning, MarketBeat.com reports. Wedbush currently has a $181.00 target price on the biotechnology company’s stock.

A number of other brokerages also recently issued reports on ASND. Cantor Fitzgerald reiterated an “overweight” rating and issued a $170.00 price objective on shares of Ascendis Pharma A/S in a research report on Monday, November 4th. Bank of America increased their price objective on Ascendis Pharma A/S from $175.00 to $191.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. StockNews.com downgraded Ascendis Pharma A/S from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised their price target on Ascendis Pharma A/S from $174.00 to $196.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lowered their price target on Ascendis Pharma A/S from $180.00 to $174.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.77.

Ascendis Pharma A/S Stock Performance

Shares of ASND stock opened at $122.00 on Friday. Ascendis Pharma A/S has a 52-week low of $90.13 and a 52-week high of $161.00. The company has a market capitalization of $7.40 billion, a PE ratio of -15.10 and a beta of 0.66. The business’s fifty day moving average is $132.40 and its 200 day moving average is $132.47.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its quarterly earnings data on Tuesday, September 3rd. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.51). The company had revenue of $38.75 million during the quarter, compared to the consensus estimate of $94.74 million. On average, sell-side analysts forecast that Ascendis Pharma A/S will post -7.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ASND. Groupama Asset Managment bought a new stake in shares of Ascendis Pharma A/S in the third quarter worth about $60,000. Signaturefd LLC grew its stake in shares of Ascendis Pharma A/S by 13.2% in the third quarter. Signaturefd LLC now owns 686 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 80 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Ascendis Pharma A/S by 61.0% in the first quarter. Bessemer Group Inc. now owns 876 shares of the biotechnology company’s stock worth $132,000 after purchasing an additional 332 shares during the last quarter. Searle & CO. bought a new stake in shares of Ascendis Pharma A/S in the second quarter worth about $205,000. Finally, Rhumbline Advisers grew its stake in shares of Ascendis Pharma A/S by 10.3% in the second quarter. Rhumbline Advisers now owns 1,533 shares of the biotechnology company’s stock worth $209,000 after purchasing an additional 143 shares during the last quarter.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S, a biopharmaceutical company, focuses on developing therapies for unmet medical needs. It offers SKYTROFA for treating patients with growth hormone deficiency (GHD). The company is also developing a pipeline of three independent endocrinology rare disease product candidates in clinical development, as well as focuses on advancing oncology therapeutic candidates.