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 boosted by Bank of America from $246.00 to $260.00 in a report issued on Friday,Benzinga reports. Bank of America currently has a buy rating on the biotechnology company’s stock.

A number of other brokerages have also recently issued reports on ASND. Raymond James Financial began coverage on shares of Ascendis Pharma A/S in a report on Friday, October 17th. They set a “strong-buy” rating and a $271.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Ascendis Pharma A/S in a report on Wednesday, November 26th. Royal Bank Of Canada upped their price objective on shares of Ascendis Pharma A/S from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Stifel Nicolaus lifted their target price on Ascendis Pharma A/S from $254.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Wells Fargo & Company increased their price target on Ascendis Pharma A/S from $322.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Two investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $270.76.

Ascendis Pharma A/S Trading Up 1.0%

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 simple moving average of $212.18 and a 200 day simple moving average of $201.32. The company has a market capitalization of $14.01 billion, a PE 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 posted its earnings results on Thursday, November 13th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.76). The firm had revenue of $250.71 million during the quarter, compared to the consensus estimate of $246.91 million. As a group, sell-side analysts predict that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Institutional Trading of Ascendis Pharma A/S

Hedge funds and other institutional investors have recently modified their holdings of the company. Certuity LLC lifted its holdings in shares of Ascendis Pharma A/S by 5.7% in the fourth quarter. Certuity LLC now owns 1,170 shares of the biotechnology company’s stock valued at $249,000 after purchasing an additional 63 shares in the last quarter. Matisse Capital grew its holdings in shares of Ascendis Pharma A/S by 4.9% during the fourth quarter. Matisse Capital now owns 27,305 shares of the biotechnology company’s stock worth $5,823,000 after buying an additional 1,285 shares in the last quarter. UBS Group AG raised its position in Ascendis Pharma A/S by 57.9% in the 4th quarter. UBS Group AG now owns 308,190 shares of the biotechnology company’s stock valued at $65,718,000 after buying an additional 112,986 shares during the last quarter. Calamos Advisors LLC raised its position in Ascendis Pharma A/S by 152.7% in the 4th quarter. Calamos Advisors LLC now owns 16,300 shares of the biotechnology company’s stock valued at $3,476,000 after buying an additional 9,850 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in Ascendis Pharma A/S by 14.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 3,498 shares of the biotechnology company’s stock valued at $823,000 after acquiring an additional 436 shares in the last quarter.

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.