Ascendis Pharma A/S (ASND) Receives Average Rating of “Buy” from Analysts
Shares of Ascendis Pharma A/S (NASDAQ:ASND) have received a consensus recommendation of “Buy” from the twelve research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $77.25.
A number of brokerages recently issued reports on ASND. Stifel Nicolaus began coverage on Ascendis Pharma A/S in a research report on Tuesday, June 26th. They set a “buy” rating and a $85.00 price objective for the company. Canaccord Genuity began coverage on Ascendis Pharma A/S in a research report on Tuesday, August 7th. They issued a “buy” rating and a $81.00 target price for the company. ValuEngine raised Ascendis Pharma A/S from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 2nd. BidaskClub downgraded Ascendis Pharma A/S from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Finally, JPMorgan Chase & Co. lifted their target price on Ascendis Pharma A/S from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Thursday, August 30th.
Shares of NASDAQ:ASND traded up $1.69 during midday trading on Thursday, reaching $66.69. 1,624 shares of the company’s stock were exchanged, compared to its average volume of 144,682. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -15.28 and a beta of 0.68. Ascendis Pharma A/S has a fifty-two week low of $31.56 and a fifty-two week high of $76.99.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASND. Jane Street Group LLC acquired a new position in Ascendis Pharma A/S in the 1st quarter valued at about $250,000. JPMorgan Chase & Co. purchased a new position in shares of Ascendis Pharma A/S in the 1st quarter valued at about $255,000. Atria Investments LLC boosted its stake in shares of Ascendis Pharma A/S by 53.5% in the 2nd quarter. Atria Investments LLC now owns 4,967 shares of the biotechnology company’s stock valued at $330,000 after buying an additional 1,731 shares during the period. PNC Financial Services Group Inc. purchased a new position in shares of Ascendis Pharma A/S in the 2nd quarter valued at about $350,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Ascendis Pharma A/S in the 2nd quarter valued at about $361,000. 94.56% of the stock is owned by institutional investors.
About Ascendis Pharma A/S
Ascendis Pharma A/S, a clinical stage biopharmaceutical company, develops various prodrug therapies for unmet medical needs. The company develops TransCon human growth hormone, which is in Phase III clinical study in children to treat growth hormone deficiency; TransCon parathyroid hormone that is in Phase I clinical study for treating hypoparathyroidism; and TransCon C-type natriuretic peptide for the treatment of achondroplasia.
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