Wedbush Trims Ascendis Pharma (ASND) Target Price to $67.00

Ascendis Pharma (NASDAQ:ASND) had its price target cut by Wedbush from $76.00 to $67.00 in a research note published on Wednesday morning. They currently have an outperform rating on the biotechnology company’s stock.

ASND has been the topic of a number of other reports. HC Wainwright restated a buy rating on shares of Ascendis Pharma in a report on Friday, January 19th. JPMorgan Chase restated a buy rating and issued a $60.00 target price on shares of Ascendis Pharma in a report on Wednesday, January 17th. Credit Suisse Group restated a buy rating and issued a $50.00 target price on shares of Ascendis Pharma in a report on Sunday, February 25th. Zacks Investment Research upgraded Ascendis Pharma from a strong sell rating to a hold rating in a report on Wednesday, February 21st. Finally, Leerink Swann restated a market perform rating and issued a $64.00 target price (up from $37.00) on shares of Ascendis Pharma in a report on Monday, April 2nd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $65.83.

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Shares of NASDAQ ASND opened at $58.55 on Wednesday. Ascendis Pharma has a 52-week low of $21.95 and a 52-week high of $69.00.

Several hedge funds and other institutional investors have recently modified their holdings of ASND. Millennium Management LLC grew its holdings in shares of Ascendis Pharma by 3.6% during the fourth quarter. Millennium Management LLC now owns 530,791 shares of the biotechnology company’s stock valued at $21,263,000 after buying an additional 18,377 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Ascendis Pharma during the fourth quarter valued at $17,279,000. JPMorgan Chase & Co. purchased a new position in shares of Ascendis Pharma during the third quarter valued at $7,163,000. Allianz Asset Management GmbH grew its holdings in shares of Ascendis Pharma by 48.1% during the fourth quarter. Allianz Asset Management GmbH now owns 178,370 shares of the biotechnology company’s stock valued at $7,145,000 after buying an additional 57,920 shares in the last quarter. Finally, Ascend Capital LLC purchased a new position in shares of Ascendis Pharma during the fourth quarter valued at $4,992,000. Institutional investors and hedge funds own 73.48% of the company’s stock.

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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.

Analyst Recommendations for Ascendis Pharma (NASDAQ:ASND)

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