JPMorgan Chase & Co. Cuts Ascendis Pharma A/S (NASDAQ:ASND) Price Target to $174.00

Ascendis Pharma A/S (NASDAQ:ASND) had its target price lowered by research analysts at JPMorgan Chase & Co. from $180.00 to $174.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 34.04% from the company’s previous close.

Several other analysts also recently weighed in on ASND. Evercore ISI boosted their price target on Ascendis Pharma A/S from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. TD Cowen upped their price target on Ascendis Pharma A/S from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Monday. Bank of America increased their target price on Ascendis Pharma A/S from $175.00 to $191.00 and gave the company a “buy” rating in a report on Monday, September 23rd. StockNews.com raised Ascendis Pharma A/S from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. Finally, The Goldman Sachs Group increased their target price on Ascendis Pharma A/S from $180.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ascendis Pharma A/S presently has a consensus rating of “Moderate Buy” and an average target price of $195.92.

Ascendis Pharma A/S Price Performance

Shares of ASND stock opened at $129.81 on Wednesday. Ascendis Pharma A/S has a 1-year low of $85.38 and a 1-year high of $161.00. The stock’s fifty day moving average price is $134.90 and its 200 day moving average price is $134.65. The company has a market cap of $7.56 billion, a price-to-earnings ratio of -13.51 and a beta of 0.64.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly earnings results on Tuesday, September 3rd. The biotechnology company reported ($2.05) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.51). The business had revenue of $38.75 million during the quarter, compared to analyst estimates of $94.74 million. As a group, equities research analysts anticipate that Ascendis Pharma A/S will post -7.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Private Ocean LLC purchased a new position in Ascendis Pharma A/S in the first quarter worth approximately $36,000. GAMMA Investing LLC raised its stake in shares of Ascendis Pharma A/S by 52.0% in the first quarter. GAMMA Investing LLC now owns 298 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 102 shares in the last quarter. Signaturefd LLC raised its stake in shares of Ascendis Pharma A/S by 13.2% in the third quarter. Signaturefd LLC now owns 686 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 80 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Ascendis Pharma A/S by 61.0% in the first quarter. Bessemer Group Inc. now owns 876 shares of the biotechnology company’s stock valued at $132,000 after acquiring an additional 332 shares in the last quarter. Finally, Searle & CO. acquired a new stake in shares of Ascendis Pharma A/S in the second quarter valued at $205,000.

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.