Ascendis Pharma A/S (NASDAQ:ASND) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Ascendis Pharma A/S (NASDAQ:ASND) in a research report report published on Thursday, Marketbeat.com reports. The brokerage issued an overweight rating and a $250.00 price objective on the biotechnology company’s stock.

A number of other analysts have also commented on ASND. Bank of America boosted their price objective on Ascendis Pharma A/S from $201.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Wedbush upped their target price on Ascendis Pharma A/S from $181.00 to $212.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Oppenheimer reissued an “outperform” rating and issued a $224.00 price target (up from $215.00) on shares of Ascendis Pharma A/S in a research note on Friday, June 13th. JPMorgan Chase & Co. lifted their target price on shares of Ascendis Pharma A/S from $200.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada upped their price target on Ascendis Pharma A/S from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Ascendis Pharma A/S has a consensus rating of “Moderate Buy” and an average target price of $220.67.

Ascendis Pharma A/S Price Performance

Ascendis Pharma A/S stock opened at $174.07 on Thursday. The firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of -27.72 and a beta of 0.38. The company’s 50 day simple moving average is $167.48 and its 200 day simple moving average is $151.91. Ascendis Pharma A/S has a fifty-two week low of $111.09 and a fifty-two week high of $183.00.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its earnings results on Thursday, May 1st. The biotechnology company reported ($1.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.10). The firm had revenue of $123.97 million during the quarter, compared to the consensus estimate of $98.56 million. As a group, analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Ascendis Pharma A/S

Several hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ascendis Pharma A/S in the 4th quarter worth about $28,000. Jones Financial Companies Lllp boosted its stake in shares of Ascendis Pharma A/S by 394.0% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the biotechnology company’s stock worth $34,000 after buying an additional 197 shares during the last quarter. Brooklyn Investment Group grew its position in Ascendis Pharma A/S by 332.9% during the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 273 shares during the period. Quarry LP acquired a new stake in shares of Ascendis Pharma A/S in the fourth quarter valued at about $96,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Ascendis Pharma A/S by 195.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,004 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 664 shares during the last quarter.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S, a biopharmaceutical company, focuses on developing therapies for unmet medical needs. It offers SKYTROFA for treating patients with growth hormone deficiency (GHD). The company is also developing a pipeline of three independent endocrinology rare disease product candidates in clinical development, as well as focuses on advancing oncology therapeutic candidates.