Ascendis Pharma A/S (NASDAQ:ASND) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Ascendis Pharma A/S (NASDAQ:ASND) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other research firms have also recently weighed in on ASND. Raymond James Financial cut shares of Ascendis Pharma A/S from a “strong-buy” rating to an “outperform” rating and set a $287.00 price target on the stock. in a research note on Tuesday, September 15th. Jefferies Financial Group reduced their price objective on shares of Ascendis Pharma A/S from $333.00 to $330.00 and set a “buy” rating for the company in a research note on Monday, August 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Ascendis Pharma A/S in a report on Tuesday, October 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 price objective on shares of Ascendis Pharma A/S in a report on Friday, September 25th. Finally, Citigroup lowered their target price on shares of Ascendis Pharma A/S from $360.00 to $330.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. Nineteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Ascendis Pharma A/S currently has an average rating of “Moderate Buy” and an average target price of $305.95.

Ascendis Pharma A/S Trading Down 0.9%

Shares of ASND stock opened at $248.98 on Friday. The business’s fifty day moving average price is $242.22 and its 200 day moving average price is $238.18. Ascendis Pharma A/S has a 1-year low of $188.07 and a 1-year high of $282.15. The firm has a market capitalization of $15.53 billion, a PE ratio of 19.32 and a beta of 0.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.99 and a quick ratio of 2.32.

Ascendis Pharma A/S (NASDAQ:ASND) last released its quarterly earnings data on Friday, August 14th. The biotechnology company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.68). Ascendis Pharma A/S had a return on equity of 32.54% and a net margin of 70.99%. The business had revenue of $387.22 million during the quarter, compared to analysts’ expectations of $376.75 million. As a group, sell-side analysts forecast that Ascendis Pharma A/S will post 3.43 EPS for the current fiscal year.

Insider Buying and Selling at Ascendis Pharma A/S

In other Ascendis Pharma A/S news, SVP Mads Bodenhoff sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $270.19, for a total transaction of $810,570.00. Following the sale, the senior vice president directly owned 3,000 shares in the company, valued at approximately $810,570. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jean-Jacques Bienaimé bought 2,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $246.33 per share, for a total transaction of $492,660.00. Following the completion of the transaction, the director owned 2,900 shares of the company’s stock, valued at $714,357. This represents a 222.22% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 40.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ASND. CenterBook Partners LP increased its position in Ascendis Pharma A/S by 31.4% during the third quarter. CenterBook Partners LP now owns 4,108 shares of the biotechnology company’s stock worth $936,000 after buying an additional 982 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Ascendis Pharma A/S by 19.4% in the third quarter. Commonwealth Equity Services LLC now owns 1,459 shares of the biotechnology company’s stock worth $332,000 after acquiring an additional 237 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Ascendis Pharma A/S by 2.3% in the third quarter. Chicago Partners Investment Group LLC now owns 2,316 shares of the biotechnology company’s stock worth $564,000 after acquiring an additional 52 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ascendis Pharma A/S in the third quarter worth $1,657,000. Finally, ProShare Advisors LLC raised its holdings in shares of Ascendis Pharma A/S by 5.6% in the third quarter. ProShare Advisors LLC now owns 2,134 shares of the biotechnology company’s stock worth $486,000 after acquiring an additional 113 shares during the last quarter.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases. The company uses its proprietary TransCon technology platform to design long-acting medicines intended to improve treatment convenience, maintain controlled drug exposure, and address unmet medical needs.

Its commercial products include SKYTROFA (lonape­gsomatropin-tcgd), a once-weekly growth hormone treatment for children with growth hormone deficiency, and YORVIPATH (palopegteriparatide), a once-daily therapy for adults with hypoparathyroidism.