Ascendis Pharma A/S (NASDAQ:ASND) Stock Price Up 4.4% – Here’s Why

Ascendis Pharma A/S (NASDAQ:ASND) rose 4.4% during mid-day trading on Friday . The stock traded as high as $160.97 and last traded at $167.52. Approximately 43,165 shares traded hands during trading, a decline of 91% from the average daily volume of 486,169 shares. The stock had previously closed at $160.45.

Analysts Set New Price Targets

Several brokerages have commented on ASND. JPMorgan Chase & Co. boosted their price objective on shares of Ascendis Pharma A/S from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Evercore ISI upped their price objective on Ascendis Pharma A/S from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Royal Bank of Canada initiated coverage on Ascendis Pharma A/S in a research report on Wednesday, April 16th. They issued an “outperform” rating and a $205.00 target price on the stock. Morgan Stanley set a $180.00 target price on shares of Ascendis Pharma A/S in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group lifted their price target on shares of Ascendis Pharma A/S from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $204.67.

Ascendis Pharma A/S Price Performance

The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of -23.12 and a beta of 0.54. The stock has a fifty day moving average of $153.78 and a two-hundred day moving average of $138.97.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.64. On average, research analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Institutional Investors Weigh In On Ascendis Pharma A/S

Institutional investors have recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new position in Ascendis Pharma A/S in the first quarter valued at $222,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Ascendis Pharma A/S by 24.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 189,613 shares of the biotechnology company’s stock valued at $28,713,000 after purchasing an additional 36,875 shares during the period. Diversified Trust Co boosted its position in shares of Ascendis Pharma A/S by 3.4% during the 1st quarter. Diversified Trust Co now owns 46,548 shares of the biotechnology company’s stock valued at $7,255,000 after purchasing an additional 1,510 shares in the last quarter. Pursue Wealth Partners LLC acquired a new stake in Ascendis Pharma A/S during the first quarter worth approximately $226,000. Finally, Harbor Capital Advisors Inc. grew its stake in Ascendis Pharma A/S by 1.3% during the first quarter. Harbor Capital Advisors Inc. now owns 85,960 shares of the biotechnology company’s stock worth $13,398,000 after purchasing an additional 1,087 shares during the period.

About Ascendis Pharma A/S

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.