Ascendis Pharma A/S (NASDAQ:ASND) Rating Reiterated by Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Ascendis Pharma A/S (NASDAQ:ASND) in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a $116.00 target price on the biotechnology company’s stock.

Several other equities analysts have also issued reports on ASND. JPMorgan Chase & Co. raised their price objective on Ascendis Pharma A/S from $165.00 to $167.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Wells Fargo & Company raised their price objective on Ascendis Pharma A/S from $196.00 to $260.00 and gave the stock an overweight rating in a report on Friday, March 15th. Citigroup raised their price target on Ascendis Pharma A/S from $146.00 to $182.00 and gave the stock a buy rating in a report on Thursday, February 8th. Cantor Fitzgerald reissued an overweight rating and set a $173.00 price target on shares of Ascendis Pharma A/S in a report on Thursday, April 18th. Finally, Wedbush raised their price target on Ascendis Pharma A/S from $207.00 to $225.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $173.25.

Ascendis Pharma A/S Stock Performance

Shares of ASND stock opened at $136.93 on Monday. The stock’s 50-day moving average is $149.08 and its two-hundred day moving average is $125.60. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of -14.80 and a beta of 0.50. Ascendis Pharma A/S has a 1 year low of $66.03 and a 1 year high of $161.00.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its quarterly earnings data on Wednesday, February 7th. The biotechnology company reported ($1.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.15) by $0.49. The company had revenue of $148.62 million for the quarter, compared to analyst estimates of $97.02 million. Ascendis Pharma A/S had a negative return on equity of 16,574.15% and a negative net margin of 180.61%. As a group, research analysts predict that Ascendis Pharma A/S will post -4.15 EPS for the current year.

Institutional Investors Weigh In On Ascendis Pharma A/S

A number of hedge funds have recently added to or reduced their stakes in ASND. Vestal Point Capital LP acquired a new stake in Ascendis Pharma A/S in the fourth quarter valued at about $78,719,000. Massachusetts Financial Services Co. MA lifted its position in Ascendis Pharma A/S by 20.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,519,219 shares of the biotechnology company’s stock valued at $191,346,000 after purchasing an additional 254,749 shares during the period. Westfield Capital Management Co. LP lifted its position in Ascendis Pharma A/S by 6.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 4,030,634 shares of the biotechnology company’s stock valued at $507,658,000 after purchasing an additional 228,457 shares during the period. First Turn Management LLC acquired a new stake in Ascendis Pharma A/S in the fourth quarter valued at about $19,092,000. Finally, abrdn plc acquired a new stake in Ascendis Pharma A/S in the fourth quarter valued at about $17,481,000.

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.