Ascendis Pharma A/S (NASDAQ:ASND) Given Average Rating of “Moderate Buy” by Analysts

Shares of Ascendis Pharma A/S (NASDAQ:ASND) have earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $289.8889.

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 target price on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Barclays assumed coverage on shares of Ascendis Pharma A/S in a research report on Tuesday, January 27th. They set an “overweight” rating and a $342.00 target price for the company. Bank of America restated a “buy” rating and issued a $262.00 price target on shares of Ascendis Pharma A/S in a report on Thursday, March 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $256.00 price target on shares of Ascendis Pharma A/S in a research report on Thursday, February 12th.

Ascendis Pharma A/S Stock Up 2.2%

ASND stock opened at $231.02 on Tuesday. The company has a market cap of $14.32 billion, a price-to-earnings ratio of -52.50 and a beta of 0.43. The business has a fifty day simple moving average of $224.60 and a 200-day simple moving average of $211.59. Ascendis Pharma A/S has a 52 week low of $124.06 and a 52 week high of $248.60.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its earnings results on Wednesday, February 11th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.58). The company had revenue of $290.38 million during the quarter, compared to analysts’ expectations of $285.35 million. As a group, analysts expect that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Institutional Trading of Ascendis Pharma A/S

A number of institutional investors have recently added to or reduced their stakes in ASND. Advisory Services Network LLC acquired a new stake in Ascendis Pharma A/S in the 3rd quarter valued at $26,000. Arax Advisory Partners lifted its stake in shares of Ascendis Pharma A/S by 212.2% during the fourth quarter. Arax Advisory Partners now owns 153 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 104 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Ascendis Pharma A/S during the fourth quarter worth about $36,000. First Horizon Advisors Inc. purchased a new stake in shares of Ascendis Pharma A/S in the second quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ascendis Pharma A/S in the fourth quarter worth about $42,000.

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.