Ascendis Pharma A/S (NASDAQ:ASND) Given “Buy” Rating at TD Cowen

Ascendis Pharma A/S (NASDAQ:ASND)‘s stock had its “buy” rating reissued by analysts at TD Cowen in a report issued on Wednesday,Benzinga reports. They presently have a $325.00 price objective on the biotechnology company’s stock. TD Cowen’s price objective would indicate a potential upside of 50.14% from the company’s current price.

Several other equities research analysts have also weighed in on ASND. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, October 8th. Stifel Nicolaus upped their price target on 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. Raymond James Financial began coverage on Ascendis Pharma A/S in a research note on Friday, October 17th. They set a “strong-buy” rating and a $271.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Ascendis Pharma A/S from $260.00 to $264.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Finally, Wall Street Zen lowered shares of Ascendis Pharma A/S from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $261.00.

Ascendis Pharma A/S Stock Performance

Shares of ASND stock traded up $7.18 during mid-day trading on Wednesday, reaching $216.47. The company’s stock had a trading volume of 103,810 shares, compared to its average volume of 353,249. The firm’s 50-day moving average is $207.26 and its two-hundred day moving average is $196.06. The company has a market cap of $13.42 billion, a P/E ratio of -48.73, a PEG ratio of 1.11 and a beta of 0.46. Ascendis Pharma A/S has a 1-year low of $118.03 and a 1-year high of $229.94.

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

Institutional Trading of Ascendis Pharma A/S

Several large investors have recently made changes to their positions in the business. Avoro Capital Advisors LLC raised its stake in shares of Ascendis Pharma A/S by 2.6% in the third quarter. Avoro Capital Advisors LLC now owns 5,110,000 shares of the biotechnology company’s stock worth $1,015,919,000 after acquiring an additional 130,000 shares during the last quarter. Capital International Investors lifted its holdings in Ascendis Pharma A/S by 0.4% during the 3rd quarter. Capital International Investors now owns 3,060,616 shares of the biotechnology company’s stock worth $608,481,000 after buying an additional 13,685 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Ascendis Pharma A/S by 1.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,901,843 shares of the biotechnology company’s stock valued at $328,258,000 after buying an additional 23,926 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Ascendis Pharma A/S by 95.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company’s stock valued at $357,645,000 after buying an additional 880,836 shares during the period. Finally, Perceptive Advisors LLC bought a new stake in shares of Ascendis Pharma A/S during the second quarter worth $166,367,000.

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.