Shares of Ascendis Pharma (NASDAQ:ASND) have been assigned a consensus rating of “Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $65.83.
A number of equities analysts have commented on the company. ValuEngine raised Ascendis Pharma from a “hold” rating to a “buy” rating in a report on Monday. Wedbush reduced their target price on Ascendis Pharma from $76.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday. Leerink Swann reissued a “market perform” rating and set a $64.00 target price (up previously from $37.00) on shares of Ascendis Pharma in a report on Monday. JPMorgan Chase increased their price target on Ascendis Pharma to $75.00 and gave the company an “overweight” rating in a report on Wednesday, March 21st. Finally, Credit Suisse Group increased their price target on Ascendis Pharma from $50.00 to $78.00 and gave the company an “outperform” rating in a report on Tuesday, March 20th.
A number of institutional investors have recently modified their holdings of the stock. Endurant Capital Management LP grew its position in Ascendis Pharma by 118.3% in the fourth quarter. Endurant Capital Management LP now owns 37,828 shares of the biotechnology company’s stock worth $1,515,000 after acquiring an additional 20,498 shares during the period. Millennium Management LLC grew its position in Ascendis Pharma by 3.6% in the fourth quarter. Millennium Management LLC now owns 530,791 shares of the biotechnology company’s stock worth $21,263,000 after acquiring an additional 18,377 shares during the period. Goldman Sachs Group Inc. purchased a new position in shares of Ascendis Pharma during the fourth quarter worth $650,000. University of Notre Dame DU Lac purchased a new position in shares of Ascendis Pharma during the fourth quarter worth $2,955,000. Finally, Alliancebernstein L.P. boosted its position in shares of Ascendis Pharma by 85.1% during the fourth quarter. Alliancebernstein L.P. now owns 55,540 shares of the biotechnology company’s stock worth $2,225,000 after buying an additional 25,540 shares during the period. Institutional investors own 73.48% of the company’s stock.
About Ascendis Pharma
Ascendis Pharma A/S, a clinical stage biopharmaceutical company, develops various prodrug therapies to treat unmet medical needs. It is developing TransCon human growth hormone, which is in Phase III clinical study in children to treat growth hormone deficiency; and TransCon Treprostinil that is in Phase I clinical trial for the treatment of pulmonary arterial hypertension, a life-threatening disease characterized by elevated blood pressure in the pulmonary arteries.
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