Wedbush Reiterates Their Buy Rating on Ascendis Pharma

By Ryan Adsit

In a report released today, Liana Moussatos from Wedbush reiterated a Buy rating on Ascendis Pharma (NASDAQ: ASND), with a price target of $36. The company’s shares opened today at $24.55.

Moussatos noted:

“The Wedbush View. We see ASND as an attractive investment in the short- and longer-term with pipeline progress and competitor data release in the coming months, plus results from the pivotal heiGHt trial in late 2018. Cash runway into Q4:18. Ascendis reported revenues of €0.37MM and a (loss) of €(0.78).”

According to TipRanks.com, Moussatos is a 4-star analyst with an average return of 9.0% and a 42.1% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Catabasis Pharmaceuticals, and miRagen Therapeutics Inc.

Currently, the analyst consensus on Ascendis Pharma is Moderate Buy and the average price target is $34, representing a 38.5% upside.

In a report issued on May 11, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $36 price target.

The company has a one year high of $31.86 and a one year low of $11.92. Currently, Ascendis Pharma has an average volume of 36.31K.

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Ascendis Pharma A/S is a biopharmaceutical company, which engages in the development of drug candidates. Through its TransCon technology, it develops a pipeline of sustained release prodrug therapies to address markets with unmet medical needs. The company was founded by Jan Møller Mikkelsen in September 2006 and is headquartered in Hellerup, Denmark.