Wells Fargo Maintains Overweight on Ascendis Pharma, Raises Price Target to $149
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Derek Archila has reaffirmed an Overweight rating on Ascendis Pharma (NASDAQ:ASND) and increased the price target from $137 to $149. This adjustment reflects a positive outlook on the company's stock, suggesting potential upside from its current trading level.
December 19, 2023 | 1:23 pm
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POSITIVE IMPACT
Ascendis Pharma's stock may experience a positive short term impact due to Wells Fargo's increased price target and continued Overweight rating, indicating analyst confidence in the company's future performance.
Analyst ratings and price target adjustments are significant indicators for investors, often influencing stock prices. The increase from $137 to $149 by a major financial institution like Wells Fargo suggests a strong conviction in Ascendis Pharma's growth prospects, which could lead to increased investor interest and a rise in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100