Ascendis Pharma A/S (NASDAQ:ASND) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Ascendis Pharma A/S (NASDAQ:ASND) from a hold rating to a buy rating in a report issued on Saturday.

A number of other equities research analysts also recently weighed in on the stock. Citigroup assumed coverage on shares of Ascendis Pharma A/S in a research note on Monday, May 18th. They set a “buy” rating and a $355.00 price target for the company. TD Cowen lifted their target price on shares of Ascendis Pharma A/S from $325.00 to $341.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings upgraded shares of Ascendis Pharma A/S from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. Jefferies Financial Group reissued a “buy” rating and issued a $333.00 target price on shares of Ascendis Pharma A/S in a research note on Thursday. Finally, Morgan Stanley upped their price objective on shares of Ascendis Pharma A/S from $256.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $299.24.

Ascendis Pharma A/S Stock Up 0.9%

Shares of NASDAQ:ASND opened at $248.50 on Friday. Ascendis Pharma A/S has a 12 month low of $186.05 and a 12 month high of $282.15. The company’s 50-day moving average price is $249.60 and its two-hundred day moving average price is $237.24. The company has a quick ratio of 0.72, a current ratio of 1.00 and a debt-to-equity ratio of 0.79. The firm has a market cap of $15.50 billion, a P/E ratio of 19.28 and a beta of 0.39.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly earnings results on Thursday, August 13th. The biotechnology company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.68). The firm had revenue of $387.22 million during the quarter, compared to the consensus estimate of $376.75 million. Ascendis Pharma A/S had a net margin of 70.99% and a return on equity of 246.61%. As a group, research analysts forecast that Ascendis Pharma A/S will post 4.49 EPS for the current fiscal year.

Insider Activity at Ascendis Pharma A/S

In other news, Director Jean Jacques Bienaime acquired 400 shares of the stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of $237.80 per share, for a total transaction of $95,120.00. Following the purchase, the director directly owned 400 shares of the company’s stock, valued at approximately $95,120. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 40.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ascendis Pharma A/S

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. raised its stake in Ascendis Pharma A/S by 57.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 43,701 shares of the biotechnology company’s stock valued at $9,319,000 after buying an additional 15,950 shares during the period. Candriam S.C.A. boosted its stake in shares of Ascendis Pharma A/S by 23.2% during the 1st quarter. Candriam S.C.A. now owns 230,278 shares of the biotechnology company’s stock worth $52,671,000 after acquiring an additional 43,338 shares during the period. Orbimed Advisors LLC boosted its stake in shares of Ascendis Pharma A/S by 5.8% during the 1st quarter. Orbimed Advisors LLC now owns 181,977 shares of the biotechnology company’s stock worth $41,624,000 after acquiring an additional 10,000 shares during the period. UBS Group AG increased its holdings in shares of Ascendis Pharma A/S by 57.9% during the 4th quarter. UBS Group AG now owns 308,190 shares of the biotechnology company’s stock worth $65,718,000 after acquiring an additional 112,986 shares during the last quarter. Finally, Cormorant Asset Management LP acquired a new position in shares of Ascendis Pharma A/S during the 4th quarter worth approximately $21,324,000.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S is a Denmark‐based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long‐acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company’s lead product, lonapegsomatropin (Skytrofa®), is a once‐weekly growth hormone therapy approved by the U.S.