Wells Fargo & Company Raises Ascendis Pharma A/S (NASDAQ:ASND) Price Target to $289.00

Ascendis Pharma A/S (NASDAQ:ASND) had its price objective hoisted by stock analysts at Wells Fargo & Company from $264.00 to $289.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 98.82% from the company’s previous close.

Several other brokerages also recently issued reports on ASND. Jefferies Financial Group lifted their price target on shares of Ascendis Pharma A/S from $174.00 to $196.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. The Goldman Sachs Group lifted their price objective on Ascendis Pharma A/S from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus assumed coverage on Ascendis Pharma A/S in a report on Friday, May 31st. They issued a “buy” rating and a $200.00 price target for the company. Bank of America increased their price objective on shares of Ascendis Pharma A/S from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, TD Cowen dropped their target price on shares of Ascendis Pharma A/S from $175.00 to $157.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $193.77.

Ascendis Pharma A/S Stock Up 4.1 %

ASND traded up $5.79 during midday trading on Tuesday, reaching $145.36. 1,161,814 shares of the company’s stock were exchanged, compared to its average volume of 431,050. The business has a 50-day simple moving average of $132.51 and a two-hundred day simple moving average of $136.47. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of -15.13 and a beta of 0.63. Ascendis Pharma A/S has a one year low of $85.29 and a one year high of $161.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Avoro Capital Advisors LLC boosted its holdings in shares of Ascendis Pharma A/S by 5.8% during the second quarter. Avoro Capital Advisors LLC now owns 4,196,661 shares of the biotechnology company’s stock worth $572,341,000 after acquiring an additional 229,995 shares during the period. Westfield Capital Management Co. LP increased its stake in Ascendis Pharma A/S by 1.1% during the 1st quarter. Westfield Capital Management Co. LP now owns 4,075,214 shares of the biotechnology company’s stock worth $616,050,000 after acquiring an additional 44,580 shares during the period. Capital International Investors raised its holdings in Ascendis Pharma A/S by 0.5% in the 1st quarter. Capital International Investors now owns 2,191,312 shares of the biotechnology company’s stock valued at $331,261,000 after acquiring an additional 10,044 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Ascendis Pharma A/S by 23.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,781,926 shares of the biotechnology company’s stock valued at $269,374,000 after acquiring an additional 336,976 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Ascendis Pharma A/S by 5.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,711,015 shares of the biotechnology company’s stock worth $233,348,000 after acquiring an additional 93,185 shares in the last quarter.

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.