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

Key Points

• Wall Street Zen downgraded Ascendis Pharma from “Buy” to “Hold,” although the broader analyst consensus remains “Buy,” with an average price target of $310.75.
• Ascendis shares opened at $225.60, below the 50-day moving average of $251.52, while the stock’s 12-month range is $186.05 to $282.15.
• The company reported quarterly EPS of $1.03, missing the $1.71 analyst consensus, but revenue of $387.22 million exceeded estimates of $376.75 million.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Several other analysts have also recently issued reports on the stock. Barclays dropped their price objective on shares of Ascendis Pharma A/S from $345.00 to $329.00 and set an "overweight" rating for the company in a research note on Friday, August 14th. Raymond James Financial downgraded Ascendis Pharma A/S from a "strong-buy" rating to an "outperform" rating and set a $287.00 price objective on the stock. in a research report on Tuesday, September 15th. Bank of America lowered their price objective on Ascendis Pharma A/S from $306.00 to $304.00 and set a "buy" rating on the stock in a research note on Monday, August 31st. Royal Bank Of Canada lifted their price target on Ascendis Pharma A/S from $280.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Finally, Jefferies Financial Group dropped 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 report on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $310.75.

Ascendis Pharma A/S Trading Down 2.2%

Shares of Ascendis Pharma A/S stock opened at $225.60 on Friday. The company has a current ratio of 2.99, a quick ratio of 2.32 and a debt-to-equity ratio of 0.27. Ascendis Pharma A/S has a twelve month low of $186.05 and a twelve month high of $282.15. The firm has a market capitalization of $14.07 billion, a PE ratio of 17.50 and a beta of 0.35. The firm's 50-day moving average price is $251.52 and its 200 day moving average price is $242.27.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced its earnings results on Friday, August 14th. The biotechnology company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.71 by ($0.68). The firm had revenue of $387.22 million for the quarter, compared to analyst estimates of $376.75 million. Ascendis Pharma A/S had a net margin of 70.99% and a return on equity of 32.54%. On average, sell-side analysts predict that Ascendis Pharma A/S will post 3.69 EPS for the current fiscal year.

Insider Transactions at Ascendis Pharma A/S

In other Ascendis Pharma A/S news, Director Jean-Jacques Bienaimé acquired 2,000 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $246.33 per share, with a total value of $492,660.00. Following the transaction, the director owned 2,900 shares of the company's stock, valued at $714,357. This trade represents a 222.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mads Bodenhoff sold 3,000 shares of the company's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $270.19, for a total transaction of $810,570.00. Following the completion of the transaction, the senior vice president directly owned 3,000 shares in the company, valued at $810,570. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. 40.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ascendis Pharma A/S

Several large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in Ascendis Pharma A/S during the 2nd quarter worth about $380,000. IFP Advisors Inc boosted its stake in shares of Ascendis Pharma A/S by 3,491.7% in the 2nd quarter. IFP Advisors Inc now owns 431 shares of the biotechnology company's stock valued at $115,000 after buying an additional 419 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Ascendis Pharma A/S by 1,714.3% in the 2nd quarter. Squarepoint Ops LLC now owns 9,686 shares of the biotechnology company's stock valued at $2,583,000 after buying an additional 10,286 shares during the period. Baird Financial Group Inc. purchased a new position in shares of Ascendis Pharma A/S in the 2nd quarter valued at about $2,863,000. Finally, Allworth Financial LP grew its position in shares of Ascendis Pharma A/S by 103.4% during the second quarter. Allworth Financial LP now owns 240 shares of the biotechnology company's stock worth $64,000 after buying an additional 122 shares in the last quarter.

About Ascendis Pharma A/S

Ascendis Pharma A/S NASDAQ: ASND 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 the effectiveness, convenience, and tolerability of established treatments.

Ascendis' marketed products include Skytrofa (lonapegsomatropin-tcgd), a long-acting growth hormone approved for the treatment of growth hormone deficiency in children, and Yorvipath (palopegteriparatide), a hormone replacement therapy for adults with hypoparathyroidism.

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