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

Ascendis Pharma A/S (NASDAQ:ASND) had its price target lowered by JPMorgan Chase & Co. from $180.00 to $174.00 in a research note released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

Several other research firms have also commented on ASND. Jefferies Financial Group raised their target price on Ascendis Pharma A/S from $174.00 to $196.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Wells Fargo & Company raised their target price on Ascendis Pharma A/S from $264.00 to $289.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Citigroup raised their target price on Ascendis Pharma A/S from $178.00 to $207.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. TD Cowen raised their target price on Ascendis Pharma A/S from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Evercore ISI raised their target price on Ascendis Pharma A/S from $191.00 to $205.00 and gave the stock an “outperform” 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 data from MarketBeat, Ascendis Pharma A/S presently has an average rating of “Moderate Buy” and an average price target of $195.92.

Ascendis Pharma A/S Stock Performance

Ascendis Pharma A/S stock opened at $130.32 on Wednesday. The stock has a 50-day moving average of $134.73 and a two-hundred day moving average of $134.39. The stock has a market cap of $7.59 billion, a PE ratio of -13.56 and a beta of 0.64. Ascendis Pharma A/S has a one year low of $85.70 and a one year high of $161.00.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its quarterly earnings data on Tuesday, September 3rd. The biotechnology company reported ($2.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.51). The firm had revenue of $38.75 million during the quarter, compared to analyst estimates of $94.74 million. As a group, sell-side analysts predict that Ascendis Pharma A/S will post -7.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Ascendis Pharma A/S

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in Ascendis Pharma A/S by 52.0% during the first quarter. GAMMA Investing LLC now owns 298 shares of the biotechnology company’s stock worth $45,000 after buying an additional 102 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Ascendis Pharma A/S by 14.3% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 7,034 shares of the biotechnology company’s stock worth $1,063,000 after buying an additional 882 shares in the last quarter. Private Ocean LLC purchased a new position in Ascendis Pharma A/S during the first quarter worth approximately $36,000. Matisse Capital lifted its position in Ascendis Pharma A/S by 2.6% during the first quarter. Matisse Capital now owns 35,540 shares of the biotechnology company’s stock worth $5,373,000 after buying an additional 905 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Ascendis Pharma A/S by 4,231.4% during the first quarter. BNP Paribas Financial Markets now owns 75,540 shares of the biotechnology company’s stock worth $11,419,000 after buying an additional 73,796 shares in the last quarter.

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.