Ascendis Pharma A/S (NASDAQ:ASND) Raised to Buy at Wall Street Zen

Ascendis Pharma A/S (NASDAQ:ASND) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ascendis Pharma A/S in a report on Wednesday, October 8th. Morgan Stanley assumed coverage on shares of Ascendis Pharma A/S in a research report on Thursday, July 3rd. They issued an “overweight” rating and a $250.00 price target for the company. UBS Group restated a “buy” rating and set a $307.00 price objective (up from $306.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Wedbush lifted their target price on shares of Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Cowen reiterated a “buy” rating on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ascendis Pharma A/S currently has an average rating of “Moderate Buy” and an average target price of $249.80.

Ascendis Pharma A/S Stock Performance

Shares of Ascendis Pharma A/S stock opened at $210.50 on Friday. The stock has a market cap of $12.99 billion, a P/E ratio of -40.79 and a beta of 0.41. The stock’s fifty day moving average is $199.16 and its 200 day moving average is $177.83. Ascendis Pharma A/S has a one year low of $118.03 and a one year high of $216.45.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.49. The company had revenue of $216.28 million during the quarter, compared to analysts’ expectations of $163.17 million. Analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. increased its holdings in shares of Ascendis Pharma A/S by 1.7% in the first quarter. RA Capital Management L.P. now owns 10,281,496 shares of the biotechnology company’s stock worth $1,602,474,000 after purchasing an additional 168,752 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Ascendis Pharma A/S by 12.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,053,824 shares of the biotechnology company’s stock valued at $475,970,000 after buying an additional 328,278 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Ascendis Pharma A/S by 1.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,901,843 shares of the biotechnology company’s stock valued at $328,258,000 after buying an additional 23,926 shares in the last quarter. Invesco Ltd. increased its stake in Ascendis Pharma A/S by 3.7% in the 1st quarter. Invesco Ltd. now owns 1,198,478 shares of the biotechnology company’s stock worth $186,795,000 after acquiring an additional 42,465 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new stake in shares of Ascendis Pharma A/S during the 2nd quarter worth approximately $166,367,000.

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.