Ascendis Pharma A/S (NASDAQ:ASND) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, May 24th.
According to Zacks, “Ascendis Pharma A/S is a biopharmaceutical company. The company’s product pipeline consist of TransCon Human Growth Hormone, TransCon Treprostinil, TransCon Insulin, TransCon Peptide and TransCon Ranibizumab, which are in different clinical stage, for the treatments of hormone deficiency, endocrinology, central nervous system disorders, infectious diseases and diabetes. Its technology includes TransCon which develop prodrug therapies. Ascendis Pharma A/S is based in Denmark. “
ASND has been the subject of a number of other reports. Wedbush reissued an “outperform” rating and issued a $34.00 price target on shares of Ascendis Pharma A/S in a report on Monday, April 3rd. Leerink Swann cut Ascendis Pharma A/S from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $24.00 to $30.00 in a report on Thursday, March 9th. Credit Suisse Group assumed coverage on Ascendis Pharma A/S in a report on Thursday, February 9th. They issued an “outperform” rating and a $28.00 price target for the company. Finally, J P Morgan Chase & Co assumed coverage on Ascendis Pharma A/S in a report on Thursday, May 11th. They issued an “overweight” rating and a $36.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $29.60.
Shares of Ascendis Pharma A/S (ASND) traded up 3.45% during mid-day trading on Wednesday, hitting $24.00. The company’s stock had a trading volume of 54,135 shares. The company’s market cap is $780.05 million. The stock has a 50-day moving average of $25.93 and a 200-day moving average of $24.96. Ascendis Pharma A/S has a 12-month low of $12.34 and a 12-month high of $31.86.
Ascendis Pharma A/S (NASDAQ:ASND) last released its quarterly earnings results on Tuesday, May 23rd. The biotechnology company reported ($0.83) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.64) by $0.19. Ascendis Pharma A/S had a negative return on equity of 58.53% and a negative net margin of 1,944.88%. The company had revenue of $0.40 million during the quarter, compared to analyst estimates of $1.10 million. On average, equities research analysts forecast that Ascendis Pharma A/S will post ($3.42) EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new position in Ascendis Pharma A/S during the first quarter valued at approximately $144,000. Bank of America Corp DE raised its position in Ascendis Pharma A/S by 23.6% in the first quarter. Bank of America Corp DE now owns 5,345 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 1,020 shares during the last quarter. Karp Capital Management Corp acquired a new position in Ascendis Pharma A/S during the first quarter valued at approximately $203,000. Morgan Stanley raised its position in Ascendis Pharma A/S by 1,446.2% in the first quarter. Morgan Stanley now owns 10,236 shares of the biotechnology company’s stock valued at $287,000 after buying an additional 9,574 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Ascendis Pharma A/S during the fourth quarter valued at approximately $405,000. Hedge funds and other institutional investors own 65.19% of the company’s stock.
About Ascendis Pharma A/S
Ascendis Pharma A/S is a clinical-stage biopharmaceutical company. The Company is engaged in applying its TransCon technology to develop sustained release prodrug therapies with several product candidates in clinical and preclinical development. The Company is developing its product candidate, TransCon human growth hormone (TransCon hGH) for once-weekly administration to treat growth hormone deficiency (GHD) and other indications.
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