Ascendis Pharma A/S (NASDAQ:ASND) Coverage Initiated at Wedbush

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Research analysts at Wedbush assumed coverage on shares of Ascendis Pharma A/S (NASDAQ:ASND) in a research note issued to investors on Friday, AnalystRatings.com reports. The firm set a “buy” rating and a $188.00 price target on the biotechnology company’s stock. Wedbush’s price objective points to a potential upside of 26.92% from the company’s previous close.

Several other equities research analysts also recently commented on ASND. SVB Leerink lifted their price objective on Ascendis Pharma A/S from $170.00 to $173.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Stifel Nicolaus lifted their price target on shares of Ascendis Pharma A/S from $146.00 to $171.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Canaccord Genuity increased their price objective on shares of Ascendis Pharma A/S from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Cantor Fitzgerald lifted their target price on shares of Ascendis Pharma A/S from $185.00 to $201.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, ValuEngine raised Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $168.50.

NASDAQ:ASND opened at $148.12 on Friday. The company has a current ratio of 13.19, a quick ratio of 13.19 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average price is $143.34 and its 200-day moving average price is $132.04. Ascendis Pharma A/S has a 52 week low of $90.06 and a 52 week high of $158.93.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its earnings results on Tuesday, May 19th. The biotechnology company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.11. The business had revenue of $2.45 million for the quarter, compared to the consensus estimate of $2.66 million. Ascendis Pharma A/S had a negative return on equity of 36.56% and a negative net margin of 2,231.94%. Sell-side analysts expect that Ascendis Pharma A/S will post -6.24 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Vivo Capital LLC purchased a new stake in shares of Ascendis Pharma A/S in the first quarter worth $225,574,000. Janus Henderson Group PLC increased its stake in Ascendis Pharma A/S by 284.1% in the 4th quarter. Janus Henderson Group PLC now owns 1,253,004 shares of the biotechnology company’s stock worth $174,318,000 after buying an additional 926,762 shares in the last quarter. RA Capital Management L.P. increased its stake in Ascendis Pharma A/S by 17.4% in the 1st quarter. RA Capital Management L.P. now owns 4,914,955 shares of the biotechnology company’s stock worth $553,473,000 after buying an additional 729,613 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Ascendis Pharma A/S by 12.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,260,756 shares of the biotechnology company’s stock valued at $175,396,000 after acquiring an additional 136,702 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Ascendis Pharma A/S in the fourth quarter valued at about $18,658,000. Institutional investors and hedge funds own 99.96% of the company’s stock.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S, a clinical stage biopharmaceutical company, develops various prodrug therapies for unmet medical needs. The company develops TransCon human growth hormone, which is in Phase III clinical study in children to treat growth hormone deficiency; TransCon parathyroid hormone that is in Phase I clinical study for treating hypoparathyroidism; and TransCon C-type natriuretic peptide for the treatment of achondroplasia.

Further Reading: Quiet Period Expirations

Analyst Recommendations for Ascendis Pharma A/S (NASDAQ:ASND)

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